A Treatise On Friendly Societies With Tables Constructed From the Sickness And
A Treatise On Friendly Societies With Tables Constructed From the Sickness And
Patton William
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15 which is a more convenient formula for constructing tables of the values of assurances (presently to he explained) than formula (1). The number in column C of Tahle IV. , opposite each age, is the product of the numher dying in the year following that age into the present value of 1 due as many years hence as are equal to that age increased by unity, so tbat in (2) the numerator of the fraction is equal to C, +i-i, and the denomi- nator to D z . Hence the formula becomes finally By means of ...columns C and D we are now enabled to compute the values of endowment assurances by simple division. For example, as above : Value of an endowment assurance of 10, payable at the end of seven years if a person now aged 30 shall die in his 37th year, at 3 per cent. 17. To find tJie value of an assurance of 1, payable at the end of tJie year in which x shall die. The value of the assurance is the sum of the present values of 1 payable at the end of 1, 2, 3, ... Years, to the last tabular age, if x shall die in the 1st, 2nd, 3rd, .
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