= 7. (10 points) Consider a fully discrete (all cash flows yearly, due premiums) whole life insurance of 1,000 on (1), with the payable premium determined using the equivalence principle and the following parameters: (i) i = 0.06 (ii) 2A, = 0.14 (iii) z = 12 (iv) Initial expenses are 75% of the first premium plus $10. (v) Renewal expenses are $2 plus 10% of each subsequent premium. (vi) An additional expense of $20 is paid when the death benefit is paid. Calculate the variance of the gross future loss random variable at t = 0. = 7. (10 points) Consider a fully discrete (all cash flows yearly, due premiums) whole life insurance of 1,000 on (1), with the payable premium determined using the equivalence principle and the following parameters: (i) i = 0.06 (ii) 2A, = 0.14 (iii) z = 12 (iv) Initial expenses are 75% of the first premium plus $10. (v) Renewal expenses are $2 plus 10% of each subsequent premium. (vi) An additional expense of $20 is paid when the death benefit is paid. Calculate the variance of the gross future loss random variable at t = 0