For this problem at age (x): The force of interest is constant at δ = 0.05. The force of mortality μx+t = 0.02 for 0 ≤ t ≤ 10. On January 1, 2012, you (exact age x = 40) enter into a 10-year endowment of $100,000 with an insurance company. The death benefit is paid immediate upon death. a. Find the survival function tp40 for 0 ≤ t ≤ 10. b. Calculate the probability that a life aged 40 survives to age 50. c. Calculate ̊e40:10 , the 10-year temporary expectation of life of (40). d. Calculate the net single premium for this contract.

For this problem at age (x): The force of interest is constant at δ = 0.05. The force of mortality μx+t = 0.02 for 0 ≤ t ≤ 10. On January 1, 2012, you (exact age x = 40) enter into a 10-year endowment of $100,000 with an insurance company. The death benefit is paid immediate upon death. a. Find the survival function tp40 for 0 ≤ t ≤ 10. b. Calculate the probability that a life aged 40 survives to age 50. c. Calculate ̊e40:10 , the 10-year temporary expectation of life of (40). d. Calculate the net single premium for this contract.

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section: Chapter Questions

Problem 18T

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Question

For this problem at age (x):

The force of interest is constant at δ = 0.05.
The force of mortality μx+t = 0.02 for 0 ≤ t ≤ 10.

On January 1, 2012, you (exact age x = 40) enter into a 10-year endowment of $100,000 with an insurance company. The death benefit is paid immediate upon death.

a. Find the survival function tp40 for 0 ≤ t ≤ 10.

b. Calculate the probability that a life aged 40 survives to age 50.

c. Calculate ̊e40:10 , the 10-year temporary expectation of life of (40).

d. Calculate the net single premium for this contract.

Expression, rule, or law that gives the relationship between an independent variable and dependent variable. Some important types of functions are injective function, surjective function, polynomial function, and inverse function.

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