14. The following information is given regarding the expense structure of a certain policy with k-year premium and benefit period:Percent of Premium Expenses: 60% of first year gross premium, 10% of each renewalgross premium.Per 1,000 Expenses: 8.00 in the first year, 2.00 in each renewal year.Gross Premium per 1,000: 30.00.ä = 20,=D1.05.vp.- %3DCalculate the expense reserve per 1,000 at the end of the first year.

14. The following information is given regarding…

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14. The following information is given regarding the expense structure of a certain policy with k-
year premium and benefit period:
Percent of Premium Expenses: 60% of first year gross premium, 10% of each renewal
gross premium.
Per 1,000 Expenses: 8.00 in the first year, 2.00 in each renewal year.
Gross Premium per 1,000: 30.00.
ä = 20,
=D1.05.
vp.
- %3D
Calculate the expense reserve per 1,000 at the end of the first year.

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