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For a 10-year term annuity on (3:) you are given: The annuity pays K per year continuously, where K is 100 for the rst 5

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For a 10-year term annuity on (3:) you are given: The annuity pays K per year continuously, where K is 100 for the rst 5 years and 200 thereafter. pm\" 2 0.07 fort 2 0 6 = 0.12 Y is the present value of annuity payments. Determine the sum of the rst, second and third quartiles of Y. Possible Answers A 1600 a 1900 c 2200

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