PROBLEM 1

Nominal Effective Premium Carrying

Date
interest interest Amortization Value

2,294,416

May. 1, 2020 106,667 91,777 14,890 2,279,526

Dec, 31, 2020 53,333 45,888 7,445 2,272,081

May. 1, 2021 106,667 90,883 15,783 2,256,298

Dec, 31, 2021 53,333 45,442 7,892 2,248,406

May. 1, 2022 106,667 89,936 16,730 2,231,675

Dec, 31, 2022 53,333 44,968 8,365 2,223,310

May. 1, 2023 106,667 88,932 17,734 2,205,576

Dec, 31, 2023 53,333 44,466 8,867 2,196,709

1.) Premium 2020 14,890

2.) Interest Dec 2021 45,442

Interest May 2022 89,936

Interest income 2022 135,378