You have the opportunity to offer fire insurance to your friends and neighbors. For every policy you take, you incur the following probabilistic annual risk: Annual Loss Probability of Loss $0 60% $500 10% $5,000 10% $20,000 15% $100,000 5% If you incur a loss, you pay it at the end of the year. How much should you charge each policy holder a month, collected at the beginning of each month and held in an account earning a nominal, annual, 6%, to make an annual profit of $1,000 per policy holder?