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A 2-year term insurance policy on (60) provides for a death bene t of 100 payable at the end of the year of death. This
A 2-year term insurance policy on (60) provides for a death bene t of 100 payable at the end of the year of death. This is purchased by a single premium. If (60) lives to age 62, the single premium is returned without interest. Given that q60 = 0.1, q61 = 0.15, and interest is a constant 10%, find the single premium. The correct answer is 55.06, but I want to know how to get this answer in details
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