Harold, aged 60, purchases a life annuity which will provide annual payments of 1000 commencing at age
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Harold, aged 60, purchases a life annuity which will provide annual payments of 1000 commencing at age 61. For the year beginning at age 60 only, Harold is subject to a higher risk of death, namely q^o + . 10, where ^60 is from the standard life table.
Given 7^60 = 4650, Ne\ = 3950, N^i = 3350 and / = .07, find the net single premium for this annuity.
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Related Book For 
Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach
ISBN: 978-1566983334
3rd Edition
Authors: Asa Michael M. Parmenter, Ph.d.
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