Jim has a 5-year old car in reasonably good condition. He wants to take out a $40,000 term (that is accident benefit) car insurance policy until the car is 10 years old. Assume that the probability of a car having an accident in the year in which it is x years old is as follow:

x=age

5

6

7

8

9

P(accident)

0.01191

0.01292

0.01396

0.01503

0.01613

Jim is applying to a car insurance company for his car insurance policy. The expected loss to the car insurance company for the 5th, 6th, 7th, 8th, and 9th year, would be and $357.30, $418.80,$450.90,$483.90 respectively. What would be the total expected loss to Car Insurance Company over the years 5 through 9? the respective years? Round your answers to the nearest dollar.

Provide how you for your answer and if you use calculator clearly explain. If you did it by hand. Explain.