Use the table to answer the question. The sample life insurance premium table illustrates the monthly premium for every $25,000 of coverage. Age Nonsmoker Male Nonsmoker Female Smoker Male Smoker Female Under 24 $3.00 $2.50 $4.50 $4.00 24 to 30 $4.00 $3.50 $6.15 $5.25 31 to 40 $5.50 $4.40 $9.00 $6.50 41 to 50 $7.50 $6.75 $13.00 $12.00 What is the insurance premium for a 42-year-old nonsmoking female who wants $125,000 in coverage? (1 point) Responses $33.75 $33.75 $41.50 $41.50 $58.25 $58.25 $60.00

1 answer

To calculate the insurance premium for a 42-year-old nonsmoking female who wants $125,000 in coverage, we first need to determine the monthly premium for every $25,000 of coverage:

From the table, the premium for a nonsmoking female aged 41 to 50 is $6.75 for every $25,000 of coverage.

Now, we calculate how many $25,000 increments are in $125,000:

\[ \frac{125,000}{25,000} = 5 \]

Next, we multiply the monthly premium by the number of increments:

\[ 6.75 \times 5 = 33.75 \]

Therefore, the insurance premium for a 42-year-old nonsmoking female who wants $125,000 in coverage is $33.75.