Hi there Would this be an alternative to the EPV given in the memo? If not, please let me know where I have gone wrong. Attached please find a picture of my workings.
Hi Sarah, The annuity bit is good but the lump sums look a bit confused. Easiest way to do at least one of them still alive is 1 - both dead = 1 - q*q Try this and it should work fine, Good luck! John