31. Michael is 20 years old. His parents (or a bank-in this case, it would be a loan) have agreed to pay him $20,000 a year during 5 years, so he would be able to get his education. For simplicity, assume that the payments are made at the beginning of each year. Using the Illustrative Table, compute the net single premium and the corresponding variance for the annuities mentioned. 31. Michael is 20 years old. His parents (or a bank-in this case, it would be a loan) have agreed to pay him $20,000 a year during 5 years, so he would be able to get his education. For simplicity, assume that the payments are made at the beginning of each year. Using the Illustrative Table, compute the net single premium and the corresponding variance for the annuities mentioned