Two lives aged x and y take out a policy that will pay £15,000 immediately on the death of (x) provided that (y) has died at least 5 years earlier and no more than 15 years earlier. (i) Express the present value of this benefit in terms of the random variables denoting the future lifetimes of (x) and (y). (ii) Write down an integral expression (in terms of single integrals only) for the expected present value of the benefit.

Two lives aged x and y take out a policy that will pay £15,000 immediately on the death of (x) provided that (y) has died at least 5 years earlier and no more than 15 years earlier. (i) Express the present value of this benefit in terms of the random variables denoting the future lifetimes of (x) and (y). (ii) Write down an integral expression (in terms of single integrals only) for the expected present value of the benefit.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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