Using the 3-term Woolhouse's Formula, calculate (5 decimals) the Expected Present Value of a 20-Year Term Insurance issued to a life aged 40. The death benefit is paid at the time of death. The annual interest rate is 5% per year. Mortality is based on the Standard Ultimate Survival Model which follows Makeham's Law, parametrized as follows: My = + = A + B c* A=0.00022 B=2.7 x 100 c= 1.124 You are welcome to use the values in Table D at the back of the book, whenever possible. Using the 3-term Woolhouse's Formula, calculate (5 decimals) the Expected Present Value of a 20-Year Term Insurance issued to a life aged 40. The death benefit is paid at the time of death. The annual interest rate is 5% per year. Mortality is based on the Standard Ultimate Survival Model which follows Makeham's Law, parametrized as follows: My = + = A + B c* A=0.00022 B=2.7 x 100 c= 1.124 You are welcome to use the values in Table D at the back of the book, whenever possible