Jim wishes to obtain a 20-year endowment insurance policy having a face value of 335,000. Based on Tables 19-1 and 19-2 from your text, what would be his monthly premium if he were 35 years old?
A) 1,316.65
B) 2,262.45
C) 5,718.50
D) 1,484.67
Question 2
Carolyne is paid 1,000.00 biweekly. This year, to date, she has earned 25,300.00. What will be the total deduction for Social Security and Medicare taxes on her next paycheck? (Social Security tax is 6.2 of gross wages up to 117,000. Medicare tax is 1.45 of all gross wages.)
A) 155.80
B) 94.60
C) 76.50
D) 213.05
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