Dr Lin, aged 35, takes out a pure endowment policy, which will pay a survival benefit of ?60,000 if he survives to age 55. Assume an effective interest rate of 4% per annum and mortali
Dr Lin, aged 35, takes out a pure endowment policy, which will pay a survival benefit of £60,000 if he survives to age 55. Assume an effective interest rate of 4% per annum and mortality given by the AMC00 Select Table.
(a) What is the cost of the endowment policy?
(b) Dr Lin plans to use the survival benefit to purchase a whole-life annuity paying a monthly amount in advance. How much are the monthly payments
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
