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Modified portfolio method ignoring mortality and expense charges, assume the rollover percentage is 45 percent and the annual premium is $1000. Year 1's new-money rate

Modified portfolio method ignoring mortality and expense charges, assume the rollover percentage is 45 percent and the annual premium is $1000. Year 1's new-money rate is 8 percent. Year 2's new-money rate is 11 percent. What is the end of second-year value?

A. $2023.98

B. $2290.98

C. $1149.23

D. $1652.19

E. $1641.52

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