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The assured periodic premium term increases to 30 years, along with an appropriate adjustment for claims paid for a premium of $500,000 to ensure that
The assured periodic premium term increases to 30 years, along with an appropriate adjustment for claims paid for a premium of $500,000 to ensure that the actual reserves per year are 30 zero. Calculate actual reserves in year 27, assuming the interest rate remains at 5% per annum. You can complete this question either manually or by making an appropriate modification to the spreadsheet.
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