1. Consider a fully continuous 15 -payment year whole life insurance on (45), death benefit is , annual premium rate is 200 , given 45(t)==0.02,=0.06 is determined by the EP. (a) (4 points) Write the BR at the end of the 20th policy year by (i) Retrospective Principle (ii) Prospective Principle (b) Prove that formulas in (i) and (ii) are equal. (c) Calculate . (d) Determine BR at t=20