The table shows the probabilities of dying during the year for various ages. Use the table for the following problems. (a). A 22-year-old male pays $275 for a 1-year $150,000 life insurance policy. What is the
expected value of the policy for the policy holder?
(b). A 21-year-old female pays $150 for a 1-year $120,000 life insurance policy. What is the expected value of the policy for the policy holder?