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3. Using the 1980 CO Mortality Table, calculate the following net single premiums (NSPS). Assume $1,000 of life insurance, 5% interest, and death claims paid
3. Using the 1980 CO Mortality Table, calculate the following net single premiums (NSPS). Assume $1,000 of life insurance, 5% interest, and death claims paid at the end of each year for multiple-year policies.
- What is the NSP for a two-year term policy sold to a man age 45?
- What is the NSP for a three-year endowment policy sold to a man age 55?
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