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9 Dlff addends amount annuity application arithm Barrett cards Carlisle Table combination of lives commence common logarithmic Commutation Table complete mean duration computation consequently constant construct a table construct Column continual addition curtate mean duration Davies's deduced deferred denote the present determined Elementary Table employed entered equal example expression figures foregoing Formation of Column function give given logarithm Hence increased initial values interpolation inverse joint lives labour last place Log Log Log Log(l+ log.a log.v lx+n manner method Milne mortality table multiplication natural numbers number of lives obviously occurrence oldest tabular age Oology pair of lives passing to logarithms payments Penny Cyclopaedia present value Problem quantity rath required log requisite seven-figure shown single lives specified age subsidiary series subsist survive tabular result tabular value tabulated series tion type of operation unity value of x—y whole number wlth younger age
Page 83 - ... group of men? Sir Robert Giffen, whose computation of capitalized value of human life was offered in passing, as it were, — since he did not include the result in the total costs of the Franco-Prussian war, — computed the average earning power of each active male at £40, or about $200. Reckoning the present value of an annuity of £1 on a single life at the age of 25, he arrived at a valuation per worker of £600. More recent writers discuss the value of human life from various standpoints,...
Page 37 - ... upon, the same ratio will be found to subsist in time to come between the number living and the number dying in the same space of time, out of any number of individuals similarly circumstanced with the others.
Page i - AND FORMULA FOR THE COMPUTATION of LIFE CONTINGENCIES; with copious Examples of Annuity, Assurance, and Friendly Society Calculations. By PETER GRAY, FRAS Associate of the Institute of Actuaries of Great Britain and Ireland. Royal 8vo. 15s. cloth. GRAY AND MITCHELL'S ORNITHOLOGY.- THE GENERA Of BIRDS...
Page 90 - I.) the present value of £1 to be received at the same time provided (x) be then alive, the difference between these two is evidently the present value of £l to be received a year hence if (x) be then dead.
Page 1 - All mathematical tables consist of two series of corresponding values, each value in either series having a value corresponding to it in the other.
Page 119 - XI. —To find the present value of a life assurance of £ 1 on (x) ; that is, of £1 to be received at the end of the year in which (x) dies, whenever that event may happen.
Page 80 - B dedepends ; if, moreover, TT denote the probability of a payment of B being received in the first year, and II the probability of the single life, or of all the lives, on which that benefit depends, surviving a year ; — then will the following equation always subsist : — For, if the benefit...