A fully discrete whole life insurance of $100,000 is issued to a select life aged (65). Premiums are paid annually in advance for at most 10 years. Interest is 5% per year. Initial expenses are 50% of the premium plus $125. Renewal expenses are 5% of the premiums from the 2nd premium onwards. Expenses of 200 on the benefit sum insured. (a) Calculate the premium for this policy. (b) An expression for L5 and calculate its mean 5V .