Question: The problem is for test practice which will not be graded only need the answer: 1. You are given: a. The continuous interest rate is

The problem is for test practice which will not be graded only need the answer:

1.    You are given:

a.    The continuous interest rate is 6%

b.    Mortality follows u(x+t) = |0.01    40 < t > 45

                                               |0.02      t > 45


Calculate the value of a continuous whole life annuity for an individual aged 40. 

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