Chapter 12 and 13 review

Bradley is 35 years old, male, and has a 20-year term life policy with a $750,000 death benefit. His monthly premiums are $43. What is the total cost of his term life policy?

(a)  

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CCSS.HSF.BF.A.2

Juanita is 25 years old, female, and has a 15-year term life policy that would pay $400,000. Her monthly premiums are $17.50. What is the total cost of her term life policy?

(a)  

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CCSS.HSF.BF.A.2

Sukhir is 27 years old and earns $5,019 per month. He and his family have a mortgage with a balance of $110,935.17. He wants to purchase enough life insurance to provide his family with money to pay off the mortgage and have ten years of net pay remaining. How much life insurance should Sukhir purchase?

(a)  

Carlotta is 65 years old and has a whole life insurance policy. She purchased the policy 30 years ago. The cash value chart for a 35-year-old woman is shown in Figure 12-1 on page 400 of the Math for Financial Literacy text. What is the difference between the total amount of annual premiums she has paid and the policy’s cash value?

(a)  

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CCSS.HSF.BF.A.2

Prema has health insurance with a $30 copayment and a $500 deductible. Last year, she visited the doctor four times. She also had laboratory work done that cost $195 and an X-ray that cost $115. How much did Prema pay out of her pocket last year for medical care?

(a)  

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CCSS.7.EE.B.3

Delma works as a fashion designer with an annual salary of $74,440. She has short-term disability insurance that will pay 65% of her monthly salary after she has used all of her available sick leave. What will be Delma’s monthly short-term disability benefit?

(a)  

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CCSS.7.RP.A.3

Indali is a mental health counselor who carries professional liability insurance. Her annual premiums are $510.75, and she has the premiums deducted from her paycheck. Indali is paid biweekly. How much does Indali have deducted from each paycheck for her professional liability insurance?

(a)  

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CCSS.6.NS.B.3

Marco is a photographer who carries professional liability insurance. His annual premiums are $1,075, and he has the premiums deducted from his paycheck. Marco is paid semimonthly. How much does Marco have deducted from each paycheck for his professional liability insurance?

(a)  

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CCSS.7.EE.B.3

Anabel booked a holiday cruise for herself, her two brothers, and their mother and father. Each cruise ticket cost $695, and she chose to purchase travel insurance at 3% of the total cost of the tickets. How much did Anabel pay for travel insurance?

(a)  

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CCSS.6.RP.A.3C

Fadil booked four airline tickets for himself and his family to take a Hawaiian vacation. Each ticket cost $545, and he chose to purchase travel insurance that costs 4% of the total cost of the tickets. How much did Fadil pay for travel insurance?

(a)  

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CCSS.6.RP.A.3C