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An insurance company has written 100 policies for $90,000, 500 policies for $45,000, and 1000 policies for $15,000 for people of age 20. If experience
An insurance company has written 100 policies for $90,000, 500 policies for $45,000, and 1000 policies for $15,000 for people of age 20. If experience shows that the probability that a person will die at age 20 is 0.0014, how much can the company expect to pay out during the year the policies werewritten?
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