Marcie Ann Weber, age thirty-two, takes out $15,000 of a term insurance for a ten-year term.

a. annual premium

b. monthly premium

Annual Premium (not Monthly premium is paid for Term Insurance)

Step-by-step explanation:

Term assurance is the insurance policy that provide cover for life assured for limited time i.e. 10 years cover. It is a policy usually use to compensate against sudden death or injury as a result of different perils. Travellers, Pilgrimage are well known users of Term insurance as their life risk increase with the journey.

If the scenario of 10 years cover, premium will be payable yearly(Annual premium).

If the coverage is for say 1 years, premium might be required to be paid monthly or semi-annually depending on the policy of each insurance company.

4 and 5)16.97 or 12√2

6)15.59 or 9√3

7)y = 15.59 or 9√3     x =27

8)17.80