The average smoker typically pays 15% higher life insurance costs than the average non-smoker. If the monthly cost to a non-smoker is $500 dollars per month, how much would the average smoker pay per month for the same life insurance policy?

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braid95 braid95 · Answer 1 · 2019-11-04T22:55:46+01:00

Answer:

$575 per month

Step-by-step explanation:

$500 x 15% = $75

(15% of 500 = $75)

therefore

500 + 75 = $575 a non smoker must pay for insurance

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abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2021-11-04T10:52:26+01:00

The amount that the average smoker will pay per month for the same life insurance policy is $575 per month.

Using this formula

Amount=Monthly cost+(Monthly cost× Average smoker percentage)

Where:

Monthly cost=$500

Average smoker percentage=15%

Let plug in the formula

Amount=$500+($500×$75)

Amount=$500+$75

Amount=$575 per month

Inconclusion the amount that the average smoker will pay per month for the same life insurance policy is $575 per month.

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