A 15-Year Term Life Insurance Policy Requires Premiums of $45

A 15-year term life insurance policy requires premiums of $45 per month. The first payment is made on the day that the policy is written. The insurance company immediately pays $4,000 into a fund to cover potential claims and this money cannot be recovered by the company. Using an interest rate of 6.6% compounded monthly, what is the present value of the policy to the insurance company?

A) $9,162.26
B) $5,133.39
C) $1,836.21
D) $1,161.62
E) $844.60