A 5 year endowment assurance contract provides a death benefit of €15,000 at the end of the policyyear of death within the 5 year term or else a maturity benefit of €20,00 at the end of the 5 yearterm. The contract is purchased by level premiums payable annually in advance for as long as thecontract remains in force. The 1 year death probability is qx=0.04 for t-0,1,2,3,4.Calculate the annual net premium.

The chance of occurrence of observation in the sample or event with equal likelihood to all the…

Answered: A 5 year endowment assurance contract…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Use the future value for FV = 10,000; i = 0.0
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Compute the simple interest INT for the specified length of time and the future value FV at the end of that time (in dollars). Round all answers to the nearest cent. $14,200 is invested for 5 months at 11% per year. $ FV = $ INT =
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Treasury Bill ( T-Bills ) is a short-term investment product ( from 91 days to 365 days) backed by the Bank of Ghana on behalf of the Government. When you buy one, you are essentially lending money to the government of Ghana. Treasury Bills are one of the safest forms of investment in Ghana because they are backed by the Government of Ghana and are considered risk-free. Upon maturity, the government will repay the amount it borrowed ( your investment ) with the determined interest rate given at the time of the investment. With this information in mind, a student from Ghana Communication Technology University decided to invest her GH¢24,500.00. She divided the money into three different accounts. At the end of 2020, she had made GH¢1,300.00 in interest. The 91-days yield on each of the three accounts was 4%, 5.5% and 6%. If the amount of money in the 4% account was four times the amount of money in the 5.5% account, how much money did she initially placed…
Determine the annual insurance premiums for a policy insuring a male age 40 , who wants to purchase a whole life policy with a face value of $50,500

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