I need help figuring this out.

Cost = $31/$1000 * $24000 = $744

Quarterly payment = $744 / 4 = **$186**

I need help figuring this out.

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Cost = $31/$1000 * $24000 = $744

Quarterly payment = $744 / 4 = **$186**

John,

The mathematical information is:

Coverage: $24000 policy

Pooicy Price: $31 per $1000 of coverage ( I will assume that this is the entire cost per $1000 of policy face value.

Total policy cost is $31 * ($24000/$1000) or $31 * 24 = $744

The policy cost is paid in installment quaterly or every 3 months. (*I assume the cost is paid in
one year. The duration of quarterly payments is NOT specified!) *Therefore the policy cost is paid in 4 equal payments.

Installment Payment = $744 / 4 = $186 every 3 months for 1 year.

*BruceS*

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Thanks!