Business and Finance Assume that a life insurance company would like to make a profit of
Chapter 5, Problem 1(choose chapter or problem)
Business and Finance Assume that a life insurance company would like to make a profit of $250 on a $100,000 policy sold to a person whose probability of surviving the year is 0.9985. What premium should the company charge the customer? If the company would like to make a $250 profit on a $100,000 policy at a premium of $500, what is the lowest life expectancy it should accept for a customer?
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