Question: There is a 0.99963 probability that a randomly selected 25-year-old female lives through the year. An insurance company wants to offer her a one-year policy

There is a 0.99963 probability that a randomly selected 25-year-old female lives through the year. An insurance company wants to offer her a one-year policy with a death benefit of $800,000. How much should the company charge for this policy if it wants an expected return of $500 from all similar policies?

The company should charge ______ (round to the nearest dollar)

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