Mr. and Mrs. Peters, both age 65, purchase a contract providing the following benefits: (i) An annuity-due of R per year payable while both are alive, reducing to 0.6R per year after the death of Mr. Peters as long as Mrs. Peters is alive, and reducing to 0.7R per year after the death of Mrs. Peters as long as Mr. Peters is alive. A life insurance benefit of 100,000 payable at the end of the year of death of Mr. Peters, whether or not Mrs. Peters is alive. You are given: (i) Future lifetimes are independent. 5 The mortality of each life follows the Standard Ultimate Life Table. (iii) i=0.05 (iv) The single net premium for this contract is 1,000,000. Calculate R. Mr. and Mrs. Peters, both age 65, purchase a contract providing the following benefits: (i) An annuity-due of R per year payable while both are alive, reducing to 0.6R per year after the death of Mr. Peters as long as Mrs. Peters is alive, and reducing to 0.7R per year after the death of Mrs. Peters as long as Mr. Peters is alive. A life insurance benefit of 100,000 payable at the end of the year of death of Mr. Peters, whether or not Mrs. Peters is alive. You are given: (i) Future lifetimes are independent. 5 The mortality of each life follows the Standard Ultimate Life Table. (iii) i=0.05 (iv) The single net premium for this contract is 1,000,000. Calculate R