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The correct answer is 650, but I want to know the steps. Please give as many details as you can. 6.11 A life insurance policy
The correct answer is 650, but I want to know the steps. Please give as many details as you can.
6.11 A life insurance policy on (x) has level death benefits of 1000. A life insurance on y) has exactly the same premiums and reserves as the policy on (x) for the first 10 years, but different death benefits. Suppose that qy4k-24x+k for k = 0, 1, , 9. If the common reserve V 300, what is the death benefit on (y)'s policy for the year running from time 7 to time 8? 6.11 A life insurance policy on (x) has level death benefits of 1000. A life insurance on y) has exactly the same premiums and reserves as the policy on (x) for the first 10 years, but different death benefits. Suppose that qy4k-24x+k for k = 0, 1, , 9. If the common reserve V 300, what is the death benefit on (y)'s policy for the year running from time 7 to time 8Step by Step Solution
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