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Generalized annuities and assurances, and their inter-relationships

Published online by Cambridge University Press:  20 April 2012

Leigh Roberts
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Abstract

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By the definition of generalized assurances and annuities, the relation 1 = Ās + δās is shown to be the simplest member of a family of relations in which the present value of the capital and interest repayments is equated to the original amount of a loan. When the force of interest is constant over time, the relation takes the simple form above, but when the force is a polynomial in time, the interest payments become a series of annuities, the payments on which increase over time at different rates.

Information

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 111 , Issue 3 , December 1984 , pp. 555 - 564
Copyright
Copyright © Institute and Faculty of Actuaries 1984

References

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