Question: 1. (i) (ii) Let Z1 be the present value random variable for a 15-year term insurance which pays $1 immediately on death of an individual

1. (i) (ii) Let Z1 be the present value random variable

1. (i) (ii) Let Z1 be the present value random variable for a 15-year term insurance which pays $1 immediately on death of an individual age 45. Let Z2 be the present value random variable for a 45-year-old individual who has a whole life insurance which pays $1 immediately on death but deferred for a period of 20 years. Given that u = 0.03 and 8 = 0.06, find the covariance between Z and Z2

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