You have just spoken to your insurance agent and you are interested in investing in a 20-Payment Life insurance policy. Given that you are a 25-year-old healthy female, determine the annual premium for a policy
with a face value of $55,000.Use the table provided below and round your answer to the nearest cent where
necessary
Permanent Insurance
20-Payment 20-Year
Age Whole Life
Life
Endowment
Male Female Male Female Male Fem ale
25 $16.38 $ 14.38 $28.40 $25.04 $37.02 $34.87
26 16.91 14.77 29.11 25.96 37.67 35.30
27 17.27 15.23 29.97 26.83 38.23 35.96
28 17.76 15.66 30.68 27.54
38.96
36.44
a $1,377.20
b. $790.90
C $1,427.80
d $1.475.65