1 You are given the following information for a 3 year temp

(1) You are given the following information for a 3 - year temporary life annuity - due issued to a life age X: Given that v = 0.9, calculate the actuarial present value of the annuity by (i) summing over all possible years of death and (ii) summing over all possible payment dates. Then calculate the probability that the present value of the payments actually made will exceed the actuarial present value of the annuity. (Ans 3.898, 60%)

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