Exercise
Nov 20'23
Answer
Solution: B
[[math]]
\textrm{PV} = {\frac{10}{1.04}}+{\frac{12}{\left(1.045\right)^{2}}}\,+\,{\frac{15}{\left(1.055\right)^{3}}}\,+\,{\frac{20}{\left(1.07\right)^{4}}}\,=9.615+10.989+12.774+15.258=48.64
[[/math]]
Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.