Question: . ( 2 8 ) , ( 2 9 ) and ( 3 0 ) take out a policy that will pay an insured sum

.(28),(29) and (30) take out a policy that will pay an insured sum of $3,000,000 if at least two of the three people die within a 20-year period. Additionally, a growing life annuity is offered to the last survivor of the group, starting with $50,000 the first year (*), $100,000 the second year (*), $150,000 the third year (*) and so on until you die. The premiums are payable every 3 months while all persons are alive. (*) The years are counted from this moment (for example, if the third death occurs in the 12th year, the first annuity payment for the last survivor will be of $600,000 in year 12) Using table 1, a rate of i=5.9%, calculate and write the notation: a) Calculate and give the notation for the calculation of the PNU b) Reserve at the end of year 10(Assuming (28) died) c) Reserve at the beginning of year 3(All alive) d) Reserve at the end of year 5(All alive)

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