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Enrolled Actuary Exam Prep

Category - Enrolled Actuary

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Terms of two actuarially equivalent annuities: Annuity A Annuity B Issue age 40 40 Type of annuity Perpetuity Life annuity Frequency of payment Monthly MonthlyTiming of payment End of Month End of MonthAmount of each payment P 1,000Selected values: x q x D x Nx 40 0.002125 651 870041 0.002327 607 8049 In what range is P?

Less than $860
$860 but less than $875
$875 but less than $890
$890 but less than $905
$905 or more

Explanation

Answer: B - $860 but less than $875

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