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You Bet Your Life!

A man has two life insurance policies, one for $1500 and one for $12500. His rate on the first is $31.64, on the second $28.43. The rate on his dividend on the first policy for a certain year is $6.18--on the second $5.18. If he uses his dividends to reduce his premiums, what is the entire cost for the policies for that year?


Source: Math Competency Exam for Indiana Elementary Teachers, 1923