Actuaries at Term Life Insurance Company calculated the net single premium per thousand for a five-year term policy for a man age 32 to be $5.04. To calculate the net level premium for this policy, the net single premium should be
A) divided by 5.
B) divided by the future value life annuity due factor for $1 for five years.
C) divided by the present value life annuity due factor for $1 for five years.
D) divided by the present value ordinary life annuity factor for $1 for five years.
Answer: C
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