A group of 10 people seek out an insurance company to underwrite health insurance for its members. The expected medical spending for this group is $50,000, or 5,000 per person on the average. An addit

A group of 10 people seek out an insurance company to underwrite health insurance for its members. The expected medical spending for this group is $50,000, or 5,000 per person on the average. An additional 10 people join the group who have expected medical spending of $10,000 per person on average. The premium (incorporating net loading costs of 5 percent) will be approximately