An annual premium endowment insurance with $100000 insured is issued to a select life aged 40, with a 20 year term. Death benefit is paid at the end of the year of death. The effective annual interest rate is 5%. Suppose that A[40] = .12, A60 = .29, and 20 E[40] = .37. Calculate the annual net premium for this policy. Select one: O a. 2952 O b. 2901 O c. 2978
An annual premium endowment insurance with $100000 insured is issued to a select life aged 40, with a 20 year term. Death benefit is paid at the end of the year of death. The effective annual interest rate is 5%. Suppose that A[40] = .12, A60 = .29, and 20 E[40] = .37. Calculate the annual net premium for this policy. Select one: O a. 2952 O b. 2901 O c. 2978
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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