Today is January 1 2020, Jackson will use a single premium to purchase an annuity today. This annuity pays 10,000 at the end of each year while Jackson is alive. The estimated probability of Jackson surviving for the next 4 years is stated in following table. The yield rate is assumed to be j1 = 2.31% p.a. Calculate premium value. Round your answers to three decimal places. Year Probability of surviving from start of year to end of year
1 0.73
2 0.57
3 0.26
4 0
Select one: a. 12120.623 b. 15600.000 c. 15008.524 d. 14903.505
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