Bob and Sally want to purchase a special type of whole life continuous joint insurance. You are given the following information about the insurance:

i) Continuous premiums of P are payable while both are alive ii) Continuous premiums of 0.25P are payable while only one of Bob and Sally is alive

iii) $1,000 death benefit paid at the moment of the first death iv) $2,000 death benefit paid at the moment of the second death v) Lives are independent and they each possess a constant force of mortality of 0.07

vi) d = 0.05 Calculate P.