1 (40). A whole life policy is issued to a select life age 35. The benefit pays 250,000 at the end of the year of death. The premiums are paid by an annuity-due paid annually for the duration of the policy. Interest rate is 5 percent, with the standard select life model (table D2). Expenses: 2000 at the time the policy is issued, 30 percent of the first premium and 1 percent for each subsequent premium. Let P denote said premium. b. Find P so that E(L) = 0; gross loss. (expense loaded) c. Using your answer in part b, find the probability that the policy is profitable (P(L%