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Please step by step!! Include formulas that are being used. Thankyou ! 5.3 A 2-year term insurance policy on (60) provides for a death benefit
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Include formulas that are being used.
Thankyou !
5.3 A 2-year term insurance policy on (60) provides for a death benefit of 100 payable at the end of the year of death. This is purchased by a single premium. If (60) lives to age 62 the single premium is returned without in terest. Given that q60 - 0.1, 61 0.15, and interest is a constant 10%, find the single premium
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