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Today is January 1 2020, Jackson will use a single premium to purchase an annuity today....

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 = 2.19% p.a.

Calculate premium value. Round your answers to three decimal places.

Year
1 0.71
2 0.61
3 0.40
4 0

a. 16470.685

b. 12718.589

c. 16537.494

d. 17200.000

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