Kindly answer the following questions appropriately.

The following transactions occurred in respect of Country X's trade with the rest of the world during 2012: Oil worth f10,000 was exported Perfume worth f5,000 was imported Foreign tourists spent f3,000 in Country X . Country X donated f1,000 to developing countries for current expenditure . Dividends from overseas companies totalling f500 were received . Cars worth 700 were exported on trade credit, with payment due a year later . Overseas shares worth f150 were purchased . Hot money worth $70 was deposited into Country X . Net errors and omissions were +$20 Assuming that there were no other transactions, calculate (in sterling terms) the country's: (i) visible trade balance (ii) balance of trade (iii) current account surplus or deficit (iv) financial account (investment and other financial flows) surplus or deficit (v) financial account (including reserves) surplus or deficit (vi) change in reserves.Two lives aged x and y take out a policy that will pay out $15,000 on the death of (x) provided that (y) has died at least 5 years earlier and no more than 15 years earlier. (i) Express the present value of this benefit in terms of the random variables denoting the future lifetimes of (x) and (v). [2] (ii) Give an integral expression (in terms of single integrals only) for the expected present value of the benefit. [3] (iii) Prove that the expected present value is equal to: 15,000 V SPX A- Ax+5:v 15 Px x+15y [3] (iv) State the appropriate premium payment term for this policy, assuming premiums are to be paid annually in advance. [2] [Total 10]