Julia, currently aged 50, plans to retire at age 65.7. To plan for retirement, she is advised to purchase a pure endowment policy that pays a survival benefit of $30,000 at her planned retirement date. You are given the following information: Mortality and interest rate assumptions: Ilustrative Life Table, i = 0.06. Compute the actuarial present value for this policy assuming constant force of mortality between integer ages Express this value using actuarial notation. (b) Julia is reluctant to purchase this policy because she is additionally concerned about her only grandchild Tommy. She would like Tommy to be taken care of financially in case she dies before retirement. In complete sentences, suggest an insurance policy for Julia and explain. Julia is also interested in a whole life policy with a benefit of $4,000 tu cover fumeral costs. She would like the benefit to be paid at the end of week (1.e. ca-year) of death. Compute the actuarial present value for this policy assuming deaths are uniformly distributed between integer ages. Julia, currently aged 50, plans to retire at age 65.7. To plan for retirement, she is advised to purchase a pure endowment policy that pays a survival benefit of $30,000 at her planned retirement date. You are given the following information: Mortality and interest rate assumptions: Ilustrative Life Table, i = 0.06. Compute the actuarial present value for this policy assuming constant force of mortality between integer ages Express this value using actuarial notation. (b) Julia is reluctant to purchase this policy because she is additionally concerned about her only grandchild Tommy. She would like Tommy to be taken care of financially in case she dies before retirement. In complete sentences, suggest an insurance policy for Julia and explain. Julia is also interested in a whole life policy with a benefit of $4,000 tu cover fumeral costs. She would like the benefit to be paid at the end of week (1.e. ca-year) of death. Compute the actuarial present value for this policy assuming deaths are uniformly distributed between integer ages