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Emma Stone buys $ 1 , 0 0 0 , 0 0 0 of a 5 - year - term discrete life insurance at age

Emma Stone buys $1,000,000 of a 5-year-term discrete life insurance at age 30 while working on her
newest movie. If she survives the 5-year term, all premiums are returned without interest at the end of
the 5th year. She pays for the insurance with annual premiums throughout the term. If Emma has a
constant force of mortality of 0.02 and the force of interest is 0.06, calculate the level annual benefit
premium.
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