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9. For a fully discrete whole life insurance of 1000 on (x) : (i) Death is the only decrement. (ii) The annual benefit premium is

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9. For a fully discrete whole life insurance of 1000 on (x) : (i) Death is the only decrement. (ii) The annual benefit premium is 80 . (iii) The annual gross premium is 100 . (iv) Expenses in year 1, payable at the start of the year, are 40% of gross premiums. (v) Mortality and interest are the same for asset shares and benefit reserves. (vi) i=0.10 (vii) The benefit reserve at the end of year 1 is 40 . (viii) The asset share at time 0 is 0 . Calculate the asset share at the end of the first year. (A) 17 (B) 18 (C) 19 (D) 20 (E) 21

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