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The death benefit on a life insurance policy can be paid in any of the following ways, each of which has the same present value
The death benefit on a life insurance policy can be paid in any of the following ways, each of which has the same present value as the death benefit: (i) a perpetuity of 120 at the end of each month; (ii) 365.47 at the end of each month for n years; and (iii) a payment of 17866.32 at the end of n years. Calculate the amount of the death benefit
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