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revAdmin (Created page with "For a special fully continuous whole life insurance on <math>(x)</math>, you are given: (i) Premiums and benefits: {| class="table table-bordered" ! !! First 20 years !! After 20 years |- | Premium Rate || <math>3 P</math> || <math>P</math> |- | Benefit || <math>1,000,000</math> || 500,000 |} (ii) <math>\quad \mu_{x+t}=0.03, t \geq 0</math> (iii) <math>\delta=0.06</math> Calculate <math>P</math> using the equivalence principle. <ul class="mw-excansopts"><li> 10,13...")Jan 19'24 at 1:51+548