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Can you please answer this? Jim is a 60-year-old Anglo male in reasonably good health, He wants to take out a $50,000 term (1.e., straight

Can you please answer this?

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Jim is a 60-year-old Anglo male in reasonably good health, He wants to take out a $50,000 term (1.e., straight death benefit) life Insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided. x maga 60 61 62 63 64 P(death at this age) 0.01067 0.01339 0.01630 0-01951 0.02353 Jim is applying to Big Rock Insurance Company for his term insurance policy. (a) What is the probability that Jim will die in his 60th year? (Enter a number. Enter your answer to five decimal places.) Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance (In dollars)? (Enter a number. Round your answer to two decimal places.) (b) What is the expected cost to Big Rock Insurance for years 61, 62, 63, and 64 (in dollars)? (For each answer, enter a number. Round your answers to two decimal places.) year 61 $ year 62 $ year 63 $ year 64 $ What would be the total expected cost to Big Rock Insurance over the years 60 through 64 (In dollars)? (Enter a number. Round your answer to two decimal places.) $ (c) If Big Rock Insurance wants to make a profit of $700 above the expected total cost paid out for Jim's death, how much should it charge for the policy (in dollars)? (Enter a number. Round your answer to two decimal places.) $ (d) If Big Rock Insurance Company charges $5000 for the policy, how much profit does the company expect to make (in dollars)? (Enter a number. Round your answer to two decimal places.) $

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