The Principles Of The Doctrine Of Life Annuities Explained In A Familiar Manner

Author : Francis Maseres
Publisher :
ISBN 13 : 9781332276042
Total Pages : 772 pages
Book Rating : 4.2/5 (76 download)

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Download or read book The Principles of the Doctrine of Life-Annuities written by Francis Maseres and published by . This book was released on 2015-08-05 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Principles of the Doctrine of Life-Annuities: Explained in a Familiar Manner, So as to Be Intelligible to Persons Not Acquainted With the Doctrine of Chances; And Accompanied With a Variety of New Tables, of the Values of Such Annuities at Several Different Rates of Interest, Both for Single Lives An The following work is grown to so much greater a size than was at first intended, that it seems to be necessary to give my readers some previous information of its contents, that they may be able to distinguish between the different parts of it, (which are by no means all equally interesting) and to select those which shall most excite their curiosity, and be thought most deserving of their perusal. The principles of the whole doctrine are contained in the first 90 pages, which I would therefore recommend to the attentive perusal of every reader. Of these the two first pages contain an explanation of the data, or grounds, upon which the computations of the values of annuities for lives are built. These are, first, the decrease of the present value of a future sum of money arising from the mere distance of the time at which it is to be paid, and the consequent discount that is to be allowed to the purchaser of it for prompt payment, ' (the quantity of which discount, it is evident, will depend on the rate of the interest of money;) and, secondly, the chance which, when the payment of such future sum is not made certain, but is to depend on the continuance of the life of a person of a given age, the grantor of it has of escaping the necessity of paying it at all by means of the death of the said person before it becomes due in order to determine which chance, it is necessary to have recourse to certain tables of the several probabilities of the duration of human life at every different year of age, which have been formed from observations of the numbers of persons who have died every year, in the course of a long series of years, at different ages, in divers cities and parishes, and other numerous bodies of men. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.