Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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5.
A special fully discrete life insurance policy issued to (40) pays a benefit of
5,000 for death in the first year. Thereafter, each year's benefit is 8% larger than the
previous year's. Mortality follows De Moivre's law with w = 100. The force of interest
is 0.06. Find the level annual benefit premium for this insurance under the equivalence
principle.
%3D
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Transcribed Image Text:5. A special fully discrete life insurance policy issued to (40) pays a benefit of 5,000 for death in the first year. Thereafter, each year's benefit is 8% larger than the previous year's. Mortality follows De Moivre's law with w = 100. The force of interest is 0.06. Find the level annual benefit premium for this insurance under the equivalence principle. %3D
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