A 4-year term insurance policy has an annual premium of $200, and at the end of 4 years, all payments and interest are refunded. What lump-sum deposit is necessary to equal this amount if you assume an interest rate of 4.5% compounded annually? (a) State the type. future value ordinary annuity amortization sinking fund present value of an annuity (b) Answer the question. (Round your answer to the nearest cent.) $