Consider a four-year term life insurance policy with a face amount equal to $100,000 for a 40-year-old with an interest rate of 10%.

1. (15%). Using Table 15.3, calculate the single premium for the four-year term life insurance policy with a face amount equal to $100,000 for a 40-year-old with an interest rate of 10%.

2. (13%). Ignoring expenses, what would be the policys expected balance (i.e., value or a sum which should be in the account) equal after three years?