jennyzhang
03-28-2005, 05:06 PM
http://www.casact.org/admissions/studytools/exam3/sp04-3.pdf
There are a lot of calculation here. It's not easy to type the process. I tried to calculate the old premium and new premium at age 45. (I got 2484.54 and 1763.82) then calculate the difference of them and get the present value for age 50. Obviously, there are something wrong.
Do they need refund the extra money for the first five years? Could anyone explain the idea? Thanks in advance.
There are a lot of calculation here. It's not easy to type the process. I tried to calculate the old premium and new premium at age 45. (I got 2484.54 and 1763.82) then calculate the difference of them and get the present value for age 50. Obviously, there are something wrong.
Do they need refund the extra money for the first five years? Could anyone explain the idea? Thanks in advance.