Answer questions 4 and 5 based on the following information. Joseph, who just had his 55th birthday, has the following probability of death in each year: Age Probability of death 55-56 0.025 56-57 0.026 57-58 0.027 58-59 0.028 59-60 0.029 60- 0.025 Given an annual interest rate of 5%, calculate the premium of a three-year endowment policy with a face amount equal to 5500,000 for Joseph. Select one: O a $39,000 O b. $432.923 OC $433,573 O d. $500,000 Oe. None of the above Suppose that Joseph just reached age 60 and wanted to purchase a life immediate annuity that pays him $480,000 each year, starting from his 61st birthday until his death. Given an annual interest rate of 5%, what amount should he pay now to purchase the annuity? Select one: O a $480,000 Ob. $3,120,000 Oc $6,240,000 O d. $6,720,000 O e None of the above