You have just spoken to your insurance agent and you are interested in investing in a 20-Payment Life insurance policy. Given that you are a 25-year-old healthy female, determine the annual premium for a policy with a face value of $55,000.Use the table provided below and round your answer to the nearest cent where necessary. A 7-column table with 4 rows titled Permanent Insurance. Column 1 is labeled Age with entries 25, 26, 27, 28. Column 2 is labeled Whole life male (dollars) with entries 16.38, 16.91, 17.27, 17.76. Column 3 is labeled whole life female with entries 14.38, 14.77, 15.23, 15.66. Column 4 is labeled 20-payment life male with entries 18.40, 29.11, 29.97, 30.68. Column 5 is labeled 20-payment life female with entries 25.04, 25.96, 26.83, 27.54. Column 6 is labeled 20-year endowment male with entries 37.02, 37.67, 38.23, 38.96. Column 7 is labeled 20-year endowment female with entries 34.87, 35.30, 35.96, 36.44.
a.
$1,377.20
c.
$1,427.80
b.
$790.90
d.
$1,475.65