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6. (10 points) A 20 year deferred five year life insurance policy will pay 500,000 at the end of month of death. Mortality follows De

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6. (10 points) A 20 year deferred five year life insurance policy will pay 500,000 at the end of month of death. Mortality follows De Moivre's Law with terminal age w = 120. The policy is issued to a person age (80). If the nominal interest rate convertible monthly is i, the actuarial present value for the life insurance is 24334. 605 31. An amount of 30,000 is deposited into a fund earning interest at a nominal interest rate of i convertible monthly. Find the probability that the fund is enough to cover the one enrollee age (80)

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