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Bill, aged 48, purchases a temporary life annuity of $ 1,000 per year with the first payment in two years. The maximal number of payments
Bill, aged 48, purchases a temporary life annuity of $ 1,000 per year with the first payment in two years. The maximal number of payments is 20. Find the net single premium Bill should pay for this annuity if N49 = 55, 000, N50 = 50, 000, N51 = 45, 500, N70 = 5, 000, p49 = .99, and l48 = 590, 000.
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