Question: Exercise 3: Referring to the Mortality Rate Table, answer the following questions based on this scenario. Miss Farah, aged 37, purchases a three-year term insurance

Exercise 3: Referring to the Mortality Rate Table, answer the following questions based on this scenario. Miss Farah, aged 37, purchases a three-year term insurance policy with a coverage of RM500,000. Assume an investment return of 6%, and ignore other expenses (administrative and profit loading) (a) Compute the single premium that should be paid by Miss Farah (b) Compute the level premium of a three-year term policy

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