Calculate the annual net premium and the monthly premium ! Endowment Insurance for a period...

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Accounting

Calculate the annual net premium and the monthly premium !

Endowment Insurance for a period of 35 years is issued to a person aged 25 years with the following condition :

1. Annual premium payment for 10 years

2. If he dies within the insurance period, the compensation is 100,000,000,-

3.If he lives to a period of 35 years then every beginning of the beginning of the year gets payment of 2.500.000,- in the first year, 2.000.000,- in the second year,

1,500,000,- in the third year, 1,000,000,- from the 4th year onwards.

PLEASE EXPLAIN STEP BY STEP !!

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