Question

Some insurance companies charge more if you smoke cigarettes.

What is the difference in the annual life insurance premiums paid by a 35 year old smoker and a 35 year old non-smoker, if they both take out a $100,000 policy for 20 y term?

Answer 1

9.36 x 100 = 936
7.85 x 100 = 785
936 - 785 = 151

Answer 2

Trick to do this faster

Instead of calculating the premiums for both of them, you can just first calculate the difference between the values in the table and then multiply by 100 because of 100,000 policy and multiply by 20

Answer 3

9.36 - 7.85 x 100 x 20

Answer 4

(9.35-7.85) x 100 x 20

Parenthesis ;b

Your way is correct too, except you just have to multiply by 20 because they want the annual life insurance premiums
But you'll see my method also gets you the same result but with fewer steps and calculations