The probability that an 80-year-old male in the u. s. will die within one year is approximately 0.069941. if an insurance company sells a one-year, $14,000 life insurance policy to such a person for $495, what is the company's expectation? (round your answer to two decimal places.)

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step-by-step explanation:

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yes, gavin is right.

step-by-step explanation:

gavin is correct. 

this problem is about converting 9% per year to how many percent per quarter. the rate is still the same. it only differed in the time period. so, through dimensional analysis,

9% per year  × (1 year / 4 quarters) = 2.25% per quarter

if he was asked to convert 9% per year to how many percent per quarter  compounded quarterly, then you will not simply divide by four. this is because compounding is not linear.

hope this , have a good day. c;