Ten years ago, you purchased a $70,000, 5-year term life insurance policy. At that time you were 30 years old. a. What is your annual premium?
b. How much have you paid in the last 10 years?

a. 14,000

b. 140,000

Step-by-step explanation:

step-by-step explanation:

you divide the denominator by the numerator on both sides and if the quotients are equal then the fractions are equivalent

.632

step-by-step explanation:

6 * 1/10 = 3/5

3*0.01 = 0.03

3/5 + 0.03 = .63

2*0.002 = .002

.63 + 0.002 = .632