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An insurance company has three types of annuity products: indexed annuity, fixed annuity, and variable annuity....

An insurance company has three types of annuity products: indexed annuity, fixed annuity, and variable annuity. You are given:

  • None of the customers have both fixed annuity and variable annuity.
  • 40% of the customers with fixed annuity also have indexed annuity.
  • Half of the customers with two annuity products have variable annuity.
  • 60% of the customers have indexed annuity.
  • The number of customers who have only the variable annuity is the same as the number of customers who have two annuity products.
  • All customers have at least one type of annuity.

Determine the proportion of the customers who only have the indexed annuity.

  1. 0.35

  2. 0.37

  3. 0.39

  4. 0.41

  5. 0.43

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Expert Solution

milcah answered 1 year ago
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