The term of the annuity certain is increased to 30 years, along with an appropriate...
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Accounting
The term of the annuity certain is increased to 30 years, along with an appropriate adjustment to the claims paid for the premium of $500,000 to ensure the Actual Reserves at Year 30 are zero. Calculate the Actual Reserves at Year 27 (to the nearest whole dollar), assuming the interest rate remains at 5% per annum.
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