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Solve the problem. An insurance company has written 59 policies of $50,000, 457 of $25,000, and 943 of $10,000 on people of age 20. If the...
Solve the problem.An insurance company has written 59 policies of $50,000, 457 of $25,000, and 943 of $10,000 on people of age 20. If the probability that a person will die at age 20 is .001, how much can the company expect to pay during the year the policies were written?