Laura buys a whole life policy with a death benefit of 100,000 payable at the end of

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Question:

Laura buys a whole life policy with a death benefit of 100,000 payable at the end of th eyear of death. Laura (45) will pay level annual gross premiums. You are given: Mortality follows a Standard Ultimate Life Table, i = 5%. The expenses associated with the policy are: Intial expenses of 60% of premium and 800 per policy. Renewal expenses of 10% of premium and 50 per policy. a) Calculate Laura's Premium.