A 2-year term insurance policy on 60 provides for a death, Financial Management

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A 2-year term insurance policy on 60 provides for a death

A 2-year term insurance policy on (60) provides for a death benefit of 100 payable at the end of the year of death. This is purchased by a single premium. If (60) lives to age 62, the single premium is returned without interest. Given that 4600.1,61 -0.15, and interest is a constant 10%, find the single premium.

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Financial Management: A 2-year term insurance policy on 60 provides for a death

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