2.Regarding rate making in life insurance products, Assumptions: -Premiums are paid at the beginning of the year, and death claims are paid at the end of the year. -The interest rate is 4% -death claim is #10,000 -Use the mortality table in the textbook. 1) Calculate the premium for the yearly renewable ter m insurance policy issued to a female age 45. (2) 2) Calculate the net single premium for a five-year ter m insurance policy issued to a female age 45. (3) 3) Calculate the net level premium for a five-year ter m insurance policy issued to a female age 45. (4) 4) Why do legal reserves and cash value develop unde r the level premium method for paying life insurance p remiums? (2)