How much of a premium would he have to pay if he is 53 now

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Reference no: EM131307046

Suppose that the person in Exercise increased to $4,000 the amount he wanted to be paid and made it payable at the beginning of the year. How much would his premium be?

Exercise
If a person wants to purchase a whole life annuity so that he can be paid $3,600 at the end of each year for the rest of his life, how much of a premium would he have to pay if he is 53 now?

Reference no: EM131307046

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