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Define the loss random variable l

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Question - A special fully discrete 3-premium year, 5-year term life insurance contract is issued to (50). The death benefit is 1 plus the sum of the premiums paid with interest. The interest credited to the premiums is i = 2%. You are given that µ(x) = 1 101-x for 0 < x < 101 and d = 10%. Define the loss random variable L?

Reference no: EM132957321

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