Question: Give an expression for the expected present value of the benefits provided by a with-profits endowment assurance issued to a life aged x with

Give an expression for the expected present value of the benefits provided

Give an expression for the expected present value of the benefits provided by a with-profits endowment assurance issued to a life aged x with a sum assured of S payable in n years' time of at the end of the year of earlier death. Assume that compound reversionary bonuses of 2% pa are declared at the start of each year and interest is 4.5% pa effective.

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