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Smith, age 20, purchases an insurance policy on 1/1/2008 that pays the following benefits at the end of the year of Smiths death: Year of
- Smith, age 20, purchases an insurance policy on 1/1/2008 that pays the following benefits at the end of the year of Smiths death:
| Year of death | Benefit |
| 2008 - 2027 | $100,000 |
| 2028-2047 | $200,000 |
| 2048 and later | $50,000 |
You are given the following actuarial values:
What is the single benefit premium for this insurance?
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Mathematics Of Finance
Authors: Robert Brown, Petr Zima
2nd Edition
0071756051, 9780071756051
