3. (6 marks Using the following 3 decrement service table for modelling employ- ment, calculate the EPV for each of the following: a) Calculate the EPV of a 2 year deferred benefit of $10,000 payable at the end of the year of exit, for an insured (60) who leaves by decrement 1 before age 65. Use an effective rate of interest of 5%. b) Calculate the EPV of an 5 year annuity guaranteed for 2 years of $1,000 per year payable at the end of each of the next five years if a life currently aged 60 remains in service. Use an effective rate of interest of 6%. 10000 60 61 62 63 64 65 225 280 345 420 510 600 80 90 100 110 120 130 30 65 115 175 240 300 3. (6 marks Using the following 3 decrement service table for modelling employ- ment, calculate the EPV for each of the following: a) Calculate the EPV of a 2 year deferred benefit of $10,000 payable at the end of the year of exit, for an insured (60) who leaves by decrement 1 before age 65. Use an effective rate of interest of 5%. b) Calculate the EPV of an 5 year annuity guaranteed for 2 years of $1,000 per year payable at the end of each of the next five years if a life currently aged 60 remains in service. Use an effective rate of interest of 6%. 10000 60 61 62 63 64 65 225 280 345 420 510 600 80 90 100 110 120 130 30 65 115 175 240 300