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Leonard Uses Excel to Track Life Insurance Coverage and Cost

question 15

Essay

Leonard uses Excel to track life insurance coverage and cost for his clients. Column B contains the amount of coverage, and Column C contains the cost per thousand. What is the formula that he should key in Cell D9 to calculate the annual premium and in Cell E9 for the monthly premium?


Definitions:

Regional Metamorphism

The process of rock alteration over wide areas under the influence of high pressure and temperature, typically associated with mountain building.

Contact Metamorphism

A type of metamorphism that occurs when rocks are heated by the intrusion of hot magma without melting.

Subduction

The process whereby one tectonic plate moves under another plate and is forced to sink into the mantle, often leading to volcanic activity and earthquakes.

Normal Faulting

A type of faulting where the crust is extended and the hanging wall moves down relative to the footwall.

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