Question: 1.7. A 15 year term insurance with a $3000 death benefit payable at the end of the year of death is issued to a life

1.7. A 15 year term insurance with a $3000 death benefit payable at the end of the year of death is issued to a life aged 50. The premium is payable continuously for a term of 5 years. Find the annual rate of the premium payment based on a 6% annual interest rate.

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