Referring to the Mortality Rate Table, answer the following questions based on this scenario. Miss Alyssa, aged 37, purchases a three-year term insurance policy with a coverage of $500,000. Assume an investment return of 6%, and ignore other expenses (administrative and profit loading)

(a) Compute the single premium that should be paid by Miss Alyssa

(b) Compute the level premium of a three-year term policy