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A life office issues an annuity to a man aged 70 exact. The annuity of R1 million per annum is payable annually in advance for

A life office issues an annuity to a man aged 70 exact. The annuity of R1 million per annum is payable annually in advance for as long as the man is alive. Calculate the expected present value of the benefit using PMA92C20 mortality and 8.16% interest

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