Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should have, based on the current age of the head of the household. The equation is: y = 145 – .2x where y = Insurance needed ($000) x = Current age of head of household
b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 50 years old. (Round your answer to 1 decimal place. Omit the "$" sign in your response.)
Amount of term life insurance $ thousands