2. For a 3-year term insurance of $350,000 on (55), you are given: i. ii. The death benefit is paid at the end of the year of death 955+ = 0.016+ 0.002t iii. Annual gross premium is 7,000 iv. Pre-contract expenses are 750 and are paid at time 0 v. Expenses after issue are 70 payable immediately after the receipt of each gross premium vi. Cash flows are accumulated at annual effective rate of interest is 0.05 vii. The reserve is $500 at the end of the first year and $1,000 at the end of the second year viii. Profits are discounted at annual effective rate of interest of 0.09 a) What is the profit vector for this product? b) What is the profit signature for this product? c) Calculate the net present value of the policy.