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Suppose a group of individuals faces a 2% probability of suffering a $10,000 loss, and 8% probability of suffering a $1,000 loss, a 20% probability

Suppose a group of individuals faces a 2% probability of suffering a $10,000 loss, and 8% probability of suffering a $1,000 loss, a 20% probability of suffering a $500 loss, and a 70% probability of no loss. Calculate the actuarially-fair premium.

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