2. (20 points) For a 2-year deferred, 3-year term insurance of 100,000 on [65], level pre- miums are payable at the beginning of every year during the deferred period, and the death benefit is payable at the end of the year of death. The valuation is based on an annual effective interest rate of i = 0.05. Using the following table (with select period of 3 years) and based on equivalence principle calculate the annual net premium X 65 66 67 68 69 0.08 0.09 0.10 0.11 0.12 9 0.10 0.11 0.12 0.13 0.14 0.12 0.13 0.14 0.15 0.16 0.14 0.15 0.16 0.17 0.18 X+3 68 69 70 71 72 2. (20 points) For a 2-year deferred, 3-year term insurance of 100,000 on [65], level pre- miums are payable at the beginning of every year during the deferred period, and the death benefit is payable at the end of the year of death. The valuation is based on an annual effective interest rate of i = 0.05. Using the following table (with select period of 3 years) and based on equivalence principle calculate the annual net premium X 65 66 67 68 69 0.08 0.09 0.10 0.11 0.12 9 0.10 0.11 0.12 0.13 0.14 0.12 0.13 0.14 0.15 0.16 0.14 0.15 0.16 0.17 0.18 X+3 68 69 70 71 72