Question: Question 1 Historical data from last year indicate that 89,750 of 5,483,500 policyholders made claims on their home fire insurance policies. If the claim payment

Question 1 Historical data from last year indicate that 89,750 of

Question 1 Historical data from last year indicate that 89,750 of 5,483,500 policyholders made claims on their home fire insurance policies. If the claim payment per policy is $120,000, and the rate of return earned on the insurance company's investments is 5%, what should be the premium of the policy

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