Suppose a life insurance company sells a $50,000, five-year term policy to a twenty-five-year old woman. at the beginning of each year the woman is alive, the company collects a premium of $P. the probability that the woman dies and the company pays the $50,000, is given in the below. So, for example, in Year 3, the company loses$50,000 - $ P with probability 0.00054 and gains $P with probability 1- 0.00054 = 0.99946. If the company expects to make $1000 on this policy, what should P be?

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Year Probability

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1 0.00051

2 0.00052

3 0.00054

4 0.00056

5 0.00059

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