P3-14 (similar to) Question Help Present value Standard trasurance in developing a long de insurance policy for people who ctitlive their retirarnent rent og The policy will pay out $200,000 an you anth birthday You must buy the policy on your 62nd birthday The insurance company can earn 8% on the purchase price of your policy What is the minimum purchase price the insurance company should change for this policy? What is the minimum purchase price the insurance company should charge for this policy? (Round to the newest cent)