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Actuarial science question regarding survival model (11) 4. Policy: Whole life insurance with a death benefit of $20,000 payable at the moment of death is

Actuarial science question regarding survival model

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(11) 4. Policy: Whole life insurance with a death benefit of $20,000 payable at the moment of death is issued to (30) Mortality and Interest: Generalized De Moivre with a = 0.5 and w = 100; 8 = 6% Let Z represent the present value random variable for the above policy. a. Calculate P(Z > $10,000). (5 marks) b. What is the Interquartile Range (IQR) of the distribution of Z? (6 marks) Note: The IQR = 75 percentile - 25" percentile

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