A select life aged 62 exact purchases a 3-year endowment assurance with sum assured 100,000 Premiums of 30.000 are payable annually in advance throughout the term of the policy or until earlier death. The death benefit is payable at the end of the policy year of death. Calculate the expected value of the present value of the profit or loss to the office on the contract, using the following basis: Interest 7.5% per annum Expenses Ignore Mortality 9x for all x and for t=0,1 or 2 462 -0.018. 963 = 0.02 and 264 -0.022 [6]