Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2) (10 marks) You are given the following select and ultimate mortality table: Age x Attained age 9[x] 9[x]+1 9[x]+2 Ix+3 x+3 70 71 72
2) (10 marks) You are given the following select and ultimate mortality table: Age x Attained age 9[x] 9[x]+1 9[x]+2 Ix+3 x+3 70 71 72 73 74 0.0175 0.0190 0.0210 0.0235 0.0265 0.0250 0.0275 0.0300 0.0335 0.0375 0.0315 0.0345 0.0375 0.0410 0.0450 0.0375 0.0425 0.0465 0.0515 0.0570 73 74 75 76 77 a) (3 marks) What is the probability an individual currently age 72 but who was accepted for insurance 2 years ago, will die between ages 76 and 78? (answer rounded to 5 decimal places) b) (3 marks) Let A be the probability that a select life age 73 survives 3 years. Let B be the probability that an ultimate life survives 3 years. Calculate |A - Bl. c) (4 marks) Assuming i =5%, calculate 25,000, *[71]:4 2) (10 marks) You are given the following select and ultimate mortality table: Age x Attained age 9[x] 9[x]+1 9[x]+2 Ix+3 x+3 70 71 72 73 74 0.0175 0.0190 0.0210 0.0235 0.0265 0.0250 0.0275 0.0300 0.0335 0.0375 0.0315 0.0345 0.0375 0.0410 0.0450 0.0375 0.0425 0.0465 0.0515 0.0570 73 74 75 76 77 a) (3 marks) What is the probability an individual currently age 72 but who was accepted for insurance 2 years ago, will die between ages 76 and 78? (answer rounded to 5 decimal places) b) (3 marks) Let A be the probability that a select life age 73 survives 3 years. Let B be the probability that an ultimate life survives 3 years. Calculate |A - Bl. c) (4 marks) Assuming i =5%, calculate 25,000, *[71]:4
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started