The Social Security Administration Reported in 2014 That If You

question 33

Multiple Choice

The Social Security Administration reported in 2014 that if you are a 70 year old man, there is a 65.8% chance of making it to your 80th birthday. What is the probability that you will die before reaching your 80th birthday? (round to the nearest hundredth place)

• A)0.34%
• B)0.66%
• C)34.20%
• D)Can't be determined with the given information.

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Definitions:

Token Money

Money whose face value exceeds its cost of production, typically involving coins and paper money not backed by a commodity.

Legal Tender

The coins or banknotes that must be accepted if offered in payment of a debt.

Debit Cards

Plastic cards issued by banks that allow cardholders to transfer money electronically from their bank account when making a purchase.

Grace Period

A set period of time after the due date during which payment can be made without penalty.