Determine the term life insurance amount per thousand on a 23-year-old male for a 5-year policy given that the face value of the policy is $151,625 and the annual premium is $397.26. Round your answer to the nearest cent.

Divide the annual premium by the number of thousands of dollars in the face value: $151,625 ÷ 1,000 = 151.625. Then $397.26 ÷ 151.625 ≈ $2.62 per thousand. The correct choice is $2.62.

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