Ramirez Rodriquez
11/11/2023 · Primary School

There is a 0.99962 probability that a randomly selected 23 -year-old female lives through the year. An insurance company wants to offer her a one-year policy with a death benefit of \( \$ 1,000,000 \). How much should the company charge for this policy if it wants an expected return of \( \$ 600 \) from all similar policies? The company should charge \( \$ \square \). (Round to the nearest dollar.)

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The insurance company should charge \( \$980 \) for the policy.

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