exam review 3 - Math Money Management Spring Semester Exam...

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Math Money Management Spring Semester Exam Review #3 1. Alicia is 30 years old and wants to purchase $50,000 5-year term life insurance. What is her annual premium? 2. Andy wants to purchase a universal life policy. The monthly premium will be $42.00. He chooses to have $70.00 deducted out of his paycheck each month for this policy. How much will he have saved at the end of 3 years? 3. Your annual insurance premium is $2500 for hospitalization, $1200 for surgical and medical, and $300 for major medical. Your employer pays 70% of the costs. How much will be deducted from his weekly paycheck for his part of the insurance? 4. Your total doctor’s bill was $8312 and his insurance paid a total of $6779. You have a $250 deductible and a 20% coinsurance clause. What is the total amount you are responsible for paying? 5. At what age will you receive full Social Security benefits? 6. List the various types of retirement (pension) plans. 7.
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exam review 3 - Math Money Management Spring Semester Exam...

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