Page:Popular Science Monthly Volume 19.djvu/755

Rh Similarly to the annual premium, any other mode of payment may be determined; say, for instance, one single premium for life. At age 90 the present value of all future death-claims is $779.10, and there are 847 persons to provide for the same; therefore, each one must contribute, or $0·91987 in advance, that being the one single premium for life.

The limits of a magazine article do not permit more extended illustrations, but the reader can readily reason out for himself how premiums, insuring for life in a limited number of payments, and various other adaptations in vogue, all based upon the same principles, may be arrived at.

Let us now apply the annual premium of $0·49432, as above ascertained, to the insurance fund, and follow its working to the end, computing interest at 4 per cent.: