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" A copyhold estate is held on three lives aged respectively 61, 50, and 45, each renewable at the end of the year in which it drops by a life of 7 years of age on payment of a fine of £5. Give an expression for the present value of all the fines for ever. "
Commutation tables for joint annuities and survivorship assurances - Page liv
by David Chisholm - 1858
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Journal of the Institute of Actuaries and Assurance Magazine, Volume 14

Insurance - 1869 - 506 pages
...XP». *Vh,_i— NI+n+m_! 24. A copyhold estate is held on three lives aged respectively 61, 50, and 45, each renewable at the end of the year in which it...by a life of 7 years of age on payment of a fine of £5. Give an expression for the present value of all the fines for ever. Ans. - - — 1 — A7 25....
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Graduated Exercises and Examples for the Use of Students of the Institute of ...

Thomas A. Ackland - Annuities - 1889 - 136 pages
...fines to perpetuity. (163).—-A copyhold estate is held on three lives aged severally 61, 50, and 45, each renewable at the end of the year in which it...by a life of 7 years of age on payment of a fine of £5. Give an expression for the present value of all the fines for ever. (164).—A perpetual annuity...
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Actuarial Theory

William Alexander Robertson, Frederick Alexander Ross - Accounting - 1907 - 468 pages
...1-AM l-Ax 1-A 1-A - ^-I+A"-T-+A„A^T!+AA\— ' 1-AAAA 'fxyx _ 1 d 4. A copyhold estate is held on two lives, each renewable at the end of the year in which it drops, by a life aged 10, on payment of a fine of £8. Assuming the two lives to be now aged 30 and 35 respectively,...
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