For a special fully discrete life insurance on (45), (i) The benefit is 1000 if death...
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For a special fully discrete life insurance on (45), (i) The benefit is 1000 if death occurs before age 65, 500 otherwise. (ii) Premiums are payable at the beginning of the first 20 years only. (iii) i = 0.05 (iv) A45 = 0.2 (v) 20E45= 0.3 (vi) 45:20 = 12.6 Determine the annual net premium. (A) 11.24 (B) 11.90 (C) 13.05 (D) 13.16 (E) 15.87 For a special fully discrete life insurance on (45), (i) The benefit is 1000 if death occurs before age 65, 500 otherwise. (ii) Premiums are payable at the beginning of the first 20 years only. (iii) i = 0.05 (iv) A45 = 0.2 (v) 20E45= 0.3 (vi) 45:20 = 12.6 Determine the annual net premium. (A) 11.24 (B) 11.90 (C) 13.05 (D) 13.16 (E) 15.87
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Step 12 The present value of the policy is PV 1000 1 e00545005 500 1 e00565005 PV 1000 06339 0477... View the full answer
Related Book For
Introduction to Governmental and Not for Profit Accounting
ISBN: 978-0132776011
7th edition
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
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