An insurance company is offering a new policy to his customers typically the policy is bought by a parent or a grandparent for a child at the child's birth the details of the policy policy are as follows the purchase says the parent makes the following six payments to the insurance company first birthday $822$nd birthday $823$rd birthday $924$th birthday $925$th birthday $1026$ birthday $1020$ after the child six birthday normal payments are made when the child reaches age $65$ he or she receives $115,000$