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Help with this please You are given the following information about a person aged exactly x : qx=0.03,qx+1=0.04,qx+2=0.05 A Term Life Insurance contract with death
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You are given the following information about a person aged exactly x : qx=0.03,qx+1=0.04,qx+2=0.05 A Term Life Insurance contract with death benefit of 50,000 is set on this life, with a coverage period of n=3 years. What is the Expected Present Value of the death benefit, if the annual effective interest rate is 8% ? [As usual, a benefit is paid at the end of the year of death, if death occurs within the coverage period.] Select one: a. 5292.2 b. 5088.1 c. 6010.5 d. 4704.4 e. 4900.2Step by Step Solution
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