Multiple Choice
Solve the problem.
-An insurance company has written 62 policies of $50,000, 455 of $25,000, and 908 of $10,000 on People of age 20. If the probability that a person will die at age 20 is 0.001, how much can the Company expect to pay during the year the policies were written?
A) $2356
B) $23,555
C) $235,550
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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