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4) Frank Reynolds is a bar owner who recently turned 50. He decides to buy $90,000 of continuous whole life insurance under the following assumptions: i) μ50+t = 0.06 for all t ii) 8 = 0.05 Calculate the variance of this insurance. A. 49,091 B. 2,091,942 C. 627,582,645 D. 3,037,500,000 E. None of above.

4) Frank Reynolds is a bar owner who recently turned 50. He decides to buy $90,000 of continuous whole life insurance under the following assumptions: i) μ50+t = 0.06 for all t ii) 8 = 0.05 Calculate the variance of this insurance. A. 49,091 B. 2,091,942 C. 627,582,645 D. 3,037,500,000 E. None of above.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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4) Frank Reynolds is a bar owner who recently turned 50. He decides to buy $90,000 of continuous whole life insurance under the following assumptions: i) µ50+t = 0.06 for all t ii) 8 = 0.05 Calculate the variance of this insurance. А. 49,091 В. 2,091,942 C. 627,582,645 D. 3,037,500,000 E. None of above.
Transcribed Image Text:4) Frank Reynolds is a bar owner who recently turned 50. He decides to buy $90,000 of continuous whole life insurance under the following assumptions: i) µ50+t = 0.06 for all t ii) 8 = 0.05 Calculate the variance of this insurance. А. 49,091 В. 2,091,942 C. 627,582,645 D. 3,037,500,000 E. None of above.
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