A life insurance company issues a 4-year endowment assurance to a policyholder aged 55 exact, with sum assured of RM50,000 payable at the end of year of death, or upon maturity, whichever comes first. An annual premium of RM5,000 is payable at the beginning of the year throughout the policy. The company are using the following basis: Rate of interest : 3.5% per annum Initial expenses : RM1500 Renewal expenses on the : RM200 per annum second and subsequent premium dates) Independent Mortality probability Age x 55 56 57 58 9x 0.005 0.006 0.007 0.008 Calculate the amount of reserve every end of the year (ie V.2V3V and V) for this policy using profit test, ignoring surrenders