suppose that your wealth is $250000. you buy a $200000 house and invest the rest in a risk-free asset paying an annual rate of 6%. there is a probability of 0.001 that your house will burn to the ground and its value will be reduced to zero. with a long utility of end-of-year wealth,how will you be willing to pay for insurance (at the beginning of the year)

(assume that if the house does not burn down , its end-of-year value still will be $200000)