I have the formulas in terms of how to get the RP, PP but I'm not sure how to go about this question? Could someone show me the steps?

I have the first half of the question (a-f). I'm stuck answering the rest. What steps should I take approach the rest of the questions ?

d) What is the maximum amount of money Bob is willing to pay for insurance? (5 points) e)What is the pure premium? (5 points) f) What is the risk premium? (5 points) g) Show a-f using a diagram (10 Points) h) Will Bob be willing to pay a premium of $13,500 for insurance? (5 points) i) How about a premium of $13,800 ( 5 points) PP=PL=EL RP=WTPMAxPP TP=WTPMax Please write your answers to all questions neatly and do not try to fit all answers onto this sheet of paper. Explaining your reasoning on all answers can help you earn partial credit, so err on the side of including a clear and concise explanation of your logic. "Round alf decimal numbers to their nearest hundredth value. 1) Bob's income is $122,500. There is a 40% chance Bob will get sick during the next year. If Bob gets sick, he will incur a loss of $32,500 (this is Bob's cost of illness). His utility function is U(I) =I0.5 (that is, utility equals the square root of Income). a) What is Bob's expected income? (5 points) b) What is Bob's expected loss? (5 points) c) What is Bob's expected utility? (5 points) d) What is the maximum amount of money Bob is willing to pay for insurance? ( 5 points) e)What is the pure premium? (5 points) f) What is the risk premium? (5 points) g) Show a-f using a diagram ( 10 Points) h) Will Bob be willing to pay a premium of $13,500 for insurance? (5 points) i) How about a premium of $13,800 ( 5 points) d) What is the maximum amount of money Bob is willing to pay for insurance? (5 points) e)What is the pure premium? (5 points) f) What is the risk premium? (5 points) g) Show a-f using a diagram (10 Points) h) Will Bob be willing to pay a premium of $13,500 for insurance? (5 points) i) How about a premium of $13,800 ( 5 points) PP=PL=EL RP=WTPMAxPP TP=WTPMax Please write your answers to all questions neatly and do not try to fit all answers onto this sheet of paper. Explaining your reasoning on all answers can help you earn partial credit, so err on the side of including a clear and concise explanation of your logic. "Round alf decimal numbers to their nearest hundredth value. 1) Bob's income is $122,500. There is a 40% chance Bob will get sick during the next year. If Bob gets sick, he will incur a loss of $32,500 (this is Bob's cost of illness). His utility function is U(I) =I0.5 (that is, utility equals the square root of Income). a) What is Bob's expected income? (5 points) b) What is Bob's expected loss? (5 points) c) What is Bob's expected utility? (5 points) d) What is the maximum amount of money Bob is willing to pay for insurance? ( 5 points) e)What is the pure premium? (5 points) f) What is the risk premium? (5 points) g) Show a-f using a diagram ( 10 Points) h) Will Bob be willing to pay a premium of $13,500 for insurance? (5 points) i) How about a premium of $13,800 ( 5 points)