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Today is January 1 2021, Jackson will use a single premium to purchase an annuity today. This annuity pays 10,000 at the end of each year while Jackson is alive. The estimated probability of Jackson surviving for the next 4 years is stated in following table. The yield rate is assumed to be j1 = 2.82% p.a. Calculate premium value. Round your answers to three decimal places.

Year

1

0.82

2

0.68

3

0.48

4

0

Reference no: EM133076351

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