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Chapter 3. Annuities.
Manual for SOA Exam FM/CAS Exam 2.
Chapter 3. Annuities.
Section 3.4. Non-level payment annuities and perpetuities.
c 2009. Miguel A. Arcones. All rights reserved.
Extract from:
"Arcones' Manual for the SOA Exam FM/CAS Exam 2,
Financial Mathematics. Fall 2009 Edition",
available at http://www.actexmadriver.com/
c 2009. Miguel A. Arcones. All rights reserved. Manual for SOA Exam FM/CAS Exam 2.
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Chapter 3. Annuities. Section 3.4. Non-level payment annuities and perpetuities.
Theorem 1
(Geometric Annuity) Let i, r > -1. The present value of the
annuity
Payments 1 1 + r (1 + r)2 · · · (1 + r)n-1
Time 1 2 3 · · · n
is
(Ga)n|i,r =

Source: Arcones, Miguel A. - Department of Mathematical Sciences, State University of New York at Binghamton

Collections: Mathematics