Subjects finance

Weekly Insurance F2251E

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1. **State the problem:** Karen, a 52-year-old female, has a $75,000, 20-year life insurance policy. We need to find how much is deducted weekly from her paycheck. 2. **Given data:** - Age group: 48–52 female - Coverage amount: $75,000 - Premium rate for 20-year policy: $17.56 per $1000 coverage 3. **Formula:** Annual premium = \frac{Coverage}{1000} \times Premium\ rate 4. **Calculate annual premium:** $$\text{Annual premium} = \frac{75000}{1000} \times 17.56 = 75 \times 17.56 = 1317.00$$ 5. **Calculate weekly deduction:** There are 52 weeks in a year, so $$\text{Weekly deduction} = \frac{1317.00}{52}$$ 6. **Simplify weekly deduction:** $$\text{Weekly deduction} = \frac{1317.00}{52} = 25.33$$ **Answer:** Karen's weekly deduction for life insurance is **25.33**.