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1. What are the possible wealth outcomes for a person with GH10000 who faces a 10% chance of losing GH5000 under each of the following

1. What are the possible wealth outcomes for a person with GH10000 who faces a 10%

chance of losing GH5000 under each of the following insurance policies:

(a) GH2500 of coverage; premium = GH250.

(b) GH2500 of coverage; premium = GH280.

(d) GH5000 of coverage; premium = GH550.

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