Sir,—In one of the first papers read before the Institute of Actuaries, Mr Jellicoe pointed out “the method of procedure which should be observed in determining the value of life contingencies, where the risk was of an isolated character, as distinguished from cases in which the usual considerations of average presented themselves.” The paper was not, I believe, printed for the use of the members, bnt a short account of it is given in thePost Magazineof the 10th March, 1849. This was followed by one from Mr. Hardy, “On the values of annuities which are to pay certain given rates of interest on the purchase money during the whole term of their continuance, and to replace their original values, on their expiration, at certain other given rates”—where for the first time also is given, in an intelligible form, an expression for the value of an annuity certain under such conditions; in accordance with this a set of tables was constructed, and appended to the paper read before the Institute 25th November, 1850.
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