How much should annual premium payments be based on 3% annual interest and 1958 CSO mortality?
How much should annual premium payments be based on 3% annual interest and 1958 CSO mortality?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In a retirement plan, a person who is 25 years old has to pay a premium of 35 years at the beginning of each year up to the age of 60, and from the age of 60 to be paid a lifetime pension of $ 15,000 em 3% at the beginning of each year and a pension bonus of $ 500,000 at age 60. How much should annual premium payments be based on 3% annual interest and 1958 CSO mortality?
Thank you so much.
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