JoJo Klum purchases a life insurance policy from BetterLifeCo. JoJo will pay a premium of $125 every week on Friday, and in return their beneficiaries will receive a payment of $1,000,000 on the second Friday after Jo Jo dies. BetterlifeCo invests the premiums it receives and expects to earn interest (net of any costs) of js2=10.4% p.a. a) Illustrate all the cash flows associated with this scenario as a fully labelled timeline diagram. (Include JoJo's death as an event of the timeline.) [3 marks] b) If Jolo lives another 25 years, determine the amount that BetterLifeCo will have accumulated from Jolo's premiums, at the time of JoJo's death. Enter this value to the nearest cent as an answer to "Assignment Module 1 Milestones question 2b. You can have as many attempts at this as you wish without penalty, but this question will close at 9:00pm on Wednesday 17 August. There will be no marks available for this question part after then. NB You do NOT need to include your workings for this question in your submitted assignment paper. [1 mark] c) Determine how much this will accumulate to by the time that Betterlifeco need to make the payout. [2 marks] d) Thus, explain whether under this scenario insuring JoJo would have been a profitable exercise for BetterLifeCo. [1 marks] e) Determine the minimum time Jolo would have needed to live in order for BetterLifeCo to break even on the policy. [NB this question is a little more difficult and intended to provide a bit of stretch for stronger students because you need to take into account the two-week delay to payout after Jolo's death.]