For a fully discrete whole life insurance policy of 2000 on (45), you are given: (i) The gross premium is calculated using the equivalence principle. (ii) Expenses, payable at the beginning of the year, are: % of Premium Per 1000 Per Policy First year 25% 1.5 30 Renewal years 5% 0.5 10 (iii) Mortality follows the Standard Ultimate Life Table. (iv) i = 0.05 Calculate the expense reserve at the end of policy year 10. A -2 B -8 -12 D -21 E -25 For a fully discrete whole life insurance policy of 2000 on (45), you are given: (i) The gross premium is calculated using the equivalence principle. (ii) Expenses, payable at the beginning of the year, are: % of Premium Per 1000 Per Policy First year 25% 1.5 30 Renewal years 5% 0.5 10 (iii) Mortality follows the Standard Ultimate Life Table. (iv) i = 0.05 Calculate the expense reserve at the end of policy year 10. A -2 B -8 -12 D -21 E -25