The Doctrine of Life-annuities and Assurances Analytically Investigated and Practically Explained: Together with Several Useful Tables Connected with the Subject. Edited from the Original, with the Modern Notation, and Enlarged Both in the Extent of the Treatise, as Well as in the Variety of Tables. Including a Table of Deferred Annuities on Single Lives, Carlisle Four Per Cent.; and Several Others on the English Life Table, Volume 2Walford Brothers, 1866 |
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The Doctrine of Life-Annuities and Assurances, Analytically Investigated and ... Francis Baily, F.R.S. No preview available - 2015 |
Common terms and phrases
absciss according alluded amounts of annuities annual premium annuity payable annum compound interest arising becomes due binomial theorem calculated cent interest cent per annum co-efficient column consequently death debt deduced deferred denote determined difference discount divisor eldest equation Example geometrical progression given rate given sum increase infinite interest per annum joint lives method multinomial theorem multiplied n+1 n+2 n+2 n+3 natural number Neperean logarithm nominal rate number of payments observed ordinate paid Parcieux payable half-yearly payable quarterly payments of interest period perpetuity present value principal purchase quantity rate of interest redeemed required to find simple interest single premium sinking fund substituting subtangent subtracting supplementary loans supposed supposition survivor three lives true rate true value usury value of annuities whence whole yearly annuity ΙΟ ΙΟΙ
Popular passages
Page 176 - This expression contains a coefficient for A* depending (» apart) on the rate of interest .only ; certain terms which depend on the rate of interest only ; another depending on the mortality only ; and others depending jointly on the rate of interest and the mortality. To form an idea of the utmost value of 'these corrections, let us take the extreme case of an annuity payable momently (or n infinite) and a high rate of interest, 10 per cent. We have then ß=2...
Page 223 - What is the interest of $ 81, for 2 years 14 days, at £ per cent. ? £ per cent. ? £ per cent. ? 2 per cent. ? 3 per cent. ? 4£ per cent. ? 5 per cent. ? 6 per cent. ? 7 per cent. ? 7£ per cent. ? 8 per cent.
Page 2 - Is sin, and detestable;" and the statute of 21 James the First, reducing the rate to eight per cent, provided that nothing in the law should be "construed to allow the practice of usury in point of religion or conscience...
Page 84 - When several sums of money, due at different times, are owing from one person to another, it is sometimes required to find the time when they may be all discharged in one payment without injury to either party : this is called equating the payments ; and the principle of the rule consists in finding the time when the interest of the sums...
Page 77 - ... payable quarter yearly, and subject to redemption by payments, not exceeding in one year, on account both of principal and interest...
Page 93 - It is an observation that deserves particular Attention here, that on this plan, it will be of less importance to a state what interest it is obliged to give for money : For the higher the interest, the sooner will such a fund pay off the principal. Thus...
Page 85 - ... discharged in one payment without injury to either party: this is called equating the payments; and the principle of the rule consists in finding the time when the interest of the sums which are deferred till after they are due is equal to the discount of those which are paid before they are due. RULE . Multiply each sum by the time when it is due, then divide the sum of these products by the total debt; the quotient is the time at which, all the money ought to be paid.
Page 73 - ... the present value of a similar annuity, the first payment of which is not to be made until the end of the payment period, determined as provided in subparagraph (1) or (2) of this paragraph.
Page xi - Short and easy theorems for finding, in all cases, the differences between the values of annuities payable Yearly, and of the same annuities payable Half-yearly, Quarterly, or Momently.
Page 5 - REBATE, is an allowance made on a bill, or any other debt not yet become due, in consideration of present payment.