An annuity having n payments of 1 has a present value of X. The first payment is made at the end
of three years and the remaining payments are made at seven-year intervals thereafter.
Determine X.
[[math]]\frac{a_{\overline{7n+3}|} - a_{\overline{3}|}}{s_{\overline{3}|}}[[/math]]
[[math]]\frac{a_{\overline{7n+3}|}-a_{\overline{3}|}}{a_{\overline{7}|}}[[/math]]
[[math]]\frac{a_{\overline{7n+3}|}-a_{\overline{7}|}}{a_{\overline{3}|}}[[/math]]
[[math]]\frac{a_{\overline{7n+3}|}-a_{\overline{7}|}}{a_{\overline{7}|}}[[/math]]
[[math]]\frac{a_{\overline{7n+3}|}-a_{\overline{7}|}}{s_{\overline{3}|}}[[/math]]
Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.