Hey everyone, so I'm just a bit confused about something regarding an excel project that I'm doing for a life contigency class.
I think I've got the right formulas down, but all the terms are suspiciously extremely close, heck the first and the last ax term don't even differ by 0.1!
I'm supposed to find the premium given someone's age and the insurance term, but first I need to find ax, ax(12), Ax and Ax(12). Would anyone mind double-checking the formulas I have to see if they're actually correct? The qx values certainly seem a lot smaller than the standard ILT table values that I find, and so for comparison I plugged in i=6%.
Also I hope I understood the problem correctly: since it asks that I need to find the person's age, the insurance term and the face amount, I understood it as having to find KA(x:n)_(12) for age x and term n.
Thanks a million!
I think I've got the right formulas down, but all the terms are suspiciously extremely close, heck the first and the last ax term don't even differ by 0.1!
I'm supposed to find the premium given someone's age and the insurance term, but first I need to find ax, ax(12), Ax and Ax(12). Would anyone mind double-checking the formulas I have to see if they're actually correct? The qx values certainly seem a lot smaller than the standard ILT table values that I find, and so for comparison I plugged in i=6%.
Also I hope I understood the problem correctly: since it asks that I need to find the person's age, the insurance term and the face amount, I understood it as having to find KA(x:n)_(12) for age x and term n.
Thanks a million!
Regarding an Excel project
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