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The Acorn Insurance Company charges $3.50 for each unit of coverage under a block of 1-year term life insurance policies. The annual premium amount for a $50,000 policy in this block would be equal to ____.

Respuesta :

Answer:

$175

Explanation:

Insurance premium is expressed as a rate $1000

($3.50 per $1000)

Therefore;

Annual premium= $50000x$3.50/$1000

= $175

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