3. Consider a five-year term life insurance policy with face amount equal to $100,000 for a 40-year-old with an interest rate of 10%.

(a)(15%). Using Table 15.3, calculate the single premium for the five-year term life insurance policy with face amount equal to $100,000 for a 40-year-old with an interest rate of 10%.

(b)(10%). Ignoring expenses, what would be the policys expected balance (i.e., value or a sum which should be in the account) equal after two years?