Answer:
$2.62
Step-by-step explanation:
The rate per thousand is ...
... (premium amount)/(number of thousands of face value)
... = $397.26/151.625 ≈ $2.62
Answer:
The answer is 2.62
Step-by-step explanation:
Given information is :
The face value of the policy is $151,625
Per thousand this value becomes = [tex]\frac{151625}{1000}=151.625[/tex]
The annual premium is = $397.26
The term life insurance amount per thousand will be =
[tex]\frac{397.26}{151.625}[/tex] = 2.62
Hence, the answer is 2.62.
