Please answer it without using excel, with the equations. I need it for practice.

Thanks

neighbors. For every policy you take, you incur the following probabilistic annual risk: Annual Loss Probability of Loss S0 $500 5,000 $20,000 S100,000 60% 10% 10% 15% 5% If you incur a loss, you pay it at the end of the year. Hovw much should you charge each policy holder a month, collected at the beginning of each month and held in an account earning a nominal, annual, 690, to make an annual profit of $1,000 per policy holder