Anna wants to buy an insurance plan for her newborn. To purchase the policy, Anna needs to pay make the following payment to the insurance company. 2nd birthday: $700 3rd birthday: $800 4th birthday: $900 5th birthday: $1000 6th birthday: $1100 7th birthday: $1200 No more payment is required after the seventh birthday. The policy will pay Annas child $300,000 on her childs 60th birthday. If the relevant interest rate is 10% per year and Annas child will live to 60 years old, is this policy worth buying? Why? [1 mark]