The Doctrine of Life-annuities and Assurances: Analytically Investigated and Explained, Together with Several Useful Tables Connected with the Subject and a Variety of Practical Rules for the Illustration of the Same |
Other editions - View all
Common terms and phrases
2abc 3abc a b c aged 40 alluded annual payments assurance bability Cent per Cent Chapter collateral series consequently COROLLARY decease deduced deferred annuity denote the value determine the value difference of age different events divided Example expectation of receiving expression extent of human extinction find the value formula give the expectation given sum payable given term joint lives aged lives fail living as observed London Assurance Company longest method Morgan multiplied by 1+g Northampton nuity number of lives number of persons observed in Sweden oldest Parcieux persons living preceding Prob probabilities of living problem purchase quantities Question rate of interest receiving the sum respectively reversionary annuity SCHOLIUM Showing the value Simpson Simpson's rule single payment SOLUTION table of observations three given lives three joint lives three lives total present value true value unity added utmost extent value required values of annuities αβγ
Popular passages
Page 493 - Such was the decision of the Court of King's Bench in the case of The Tobacco-pipe Makers
Page 467 - ... of the churchwardens and overseers of the poor for the time being, by the direction of the vestry or select vestry, for the benefit of the parish, in the manner herein-after provided.
Page 358 - To find the expectation of any given life (or lives) receiving a given sum, at the end of anygiven term. SOLUTION. Multiply the present value of the given sum by the probability that the given life (or lives) will continue to the end of the given term: the product will be the answer required. See the note in page 44.
Page 494 - After a lapse, however, of 87 years since any authenticated proceeding has been had upon this branch of the act, and when other ways are still open to the party now applying to put this act in force against offenders, the Court, in the exercise of a sound discretion, under all the circumstances of the case, will forbear to interfere in this extraordinary manner. But, at the same time, we wish it to be understood, that it is not because we think that the facts brought before us are not within the...
Page 425 - ... 4d., for the value of the same in annual payments, to be made at the beginning of each year during the continuance of either of the given lives.
Page 23 - HE method of determining the present value of any annuity is, to find the present value of each year's rent as it becomes due; and the sum of all these will be the total present value of the annuity required. Such value will in all cases depend on the annual rate of interest concerned ; and throughout the whole of the present work I have denoted this...
Page 495 - I forbear to comment on lesser circumstances, such as the smallness of the sum to be subscribed in the first instance, which seems to carry an appearance of holding out a lure to the unwary, and other features in the case. But considering that this is brought forward after a lapse of so many years since any similar prosecution was instituted, and brought forward by a party who does not profess to have been himself deluded by the project ; and the statute...
Page 494 - But, independent of the general tendency of schemes of the nature of the project now before us to occasion prejudice to the public, there is besides in this prospectus a prominent feature of mischief ; for it therein appears to be held out that no person is to be accountable beyond the amount of the share for which he shall subscribe, the conditions of which are to be included in a deed of trust to be enrolled. But this is a mischievous delusion, calculated to ensnare the unwary public. As to the...
Page 496 - And they recommend it as a matter of prudence to the parties concerned, that they should forbear to carry into execution this mischievous project, or any other speculative project of the like nature, founded on joint stock and transferable shares ; and we hope that this intimation will prevent others from engaging in the like mischievous and illegal projects.
Page 366 - The value of two joint lives, whose difference of age is 5 years, and the oldest of which is of the same age with the oldest of the...