Suppose that the probability that a person will die in the next 20 years is
18.1452%. If this person has a life insurance policy that will pay out $25,000
to the beneficiaries of the policy if the person dies in the next 20 years, what
is the premium of the policy? Assume that the administrative costs of the
policy amount to $45.
A. 4523.89
B. 4581.30
C. 25,000
D. 4536.30
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