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revAdmin (Created page with "For a fully discrete whole life insurance of 100,000 on (45), you are given: (i) Mortality follows the Standard Ultimate Life Table (ii) <math>\quad i=0.05</math> (iii) Commission expenses are <math>60 \%</math> of the first year's gross premium and <math>2 \%</math> of renewal gross premiums (iv) Administrative expenses are 500 in the first year and 50 in each renewal year (v) All expenses are payable at the start of the year (vi) The gross premium, calculated usi...")Jan 20'24 at 1:13+742