University of Technology Jamaica Thieles Differential Equation Questions
Description
Consider the following information for a given policy :
a. ? = 0. 03
b. Level premium ? = $3500
c. No expenses.
d. µ = 0. 0007
e. Benefit payment ? = $150, 000
(i) Using Thiele’s Differential Equation, solve analytically (using
calculus) for the policy value ???.
(ii) Find the unique solution to this differential equation clearly
showing why this is the case.
(iii) Describe the what happens to the policy value as ? ? ?.
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