The following table shows the average life expectancies in several countries. Assume that all premiums...
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The following table shows the average life expectancies in several countries. Assume that all premiums you calculate are based on end-of-month deposits in a fund yielding 4.8% annual interest compounded monthly to be paid out when a person reaches the life expectancy. HINT [See Example 2.] Country Japan Canada U.K. U.S. Mexico China India Life Expectancy: Male Life 81 Expectancy: 87 Female 80 84 80 83 76 81 73 79 75 80 70 72 Calculate the life insurance monthly premium that a 40-year-old female in Japan would pay for a $8,000,000 policy. (Round your answer to the nearest cent.) $10599635.93 X
The following table shaws the average life expectancies in several countries. Assume that all premiums you calculate are based on end-of-month deposits in a fund yieiding 4.8% annual interest compounded monthly to be paid out when a person reaches the tire expectaricy, HItVT [See Example 2 .] Calculate the life insurance monthly premium that a 40 -year-old fermale in Japan would pay for a $8,000,000 policy. (Round your answer to the nearest cent)
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