2.3. The premiums for a life annuity-immediate of $2000 per quarter, deferred 10 years on a life...

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2.3. The premiums for a life annuity-immediate of $2000 per quarter, deferred 10 years on a life aged 50, are payable yearly in advance for a term of 5 years. Expenses to be allowed for are initial expenses of $100 and renewal expenses of 3% of each premium including the first. Find the gross annual premium and the expense loading of. it. Use a 6% annual rate of interest.

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Muhammad Salman Alvi

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