answer with explanation

A special continuous joint life annuity provides annuity payments of 30,000 per year while both (3:) and (y) are alive and 10,000 per year when only one is alive. The annuity also pays a death benet of 50,000 upon the rst death. Given 2' = 0.05, an, : 12 and PIE 2 15. Determine the actuarial present value of this annuity. (6 marks)