A certain policy issued at age 28 provides for the following schedule of payable amounts: Benefits (RM) Year 1 2 3 4 5 6-12 13 14 15 16 17 Death 10,000 8,000 6,000 4,000 2,000 1,000 5,000 10,000 15,000 20,000 Survival - - - - - 10,000 Assume premiums are payable at the beginning of each year, death benefits are payable at the end of year of death and survival benefit is payable upon reaching the maturity age. a) Write the commutation functions for the above policy if a person purchased the policy by semi-annual premium payable for ten years. b) Find the semi-annual premium payment for question 3(a) above.
A certain policy issued at age 28 provides for the following schedule of payable amounts: Benefits (RM) Year 1 2 3 4 5 6-12 13 14 15 16 17 Death 10,000 8,000 6,000 4,000 2,000 1,000 5,000 10,000 15,000 20,000 Survival - - - - - 10,000 Assume premiums are payable at the beginning of each year, death benefits are payable at the end of year of death and survival benefit is payable upon reaching the maturity age. a) Write the commutation functions for the above policy if a person purchased the policy by semi-annual premium payable for ten years. b) Find the semi-annual premium payment for question 3(a) above.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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