Cxy and Mxy return a commutation function value at joint age 𝑥:𝑦. These functions all share the same syntax:
Syntax
Cxy(AgeX, AgeY, InterestRate, MortalityTableX, [MortalityTableY],
[Timing], [CalculationMethod], [IssueAge])
Mxy(AgeX, AgeY, InterestRate, MortalityTableX, [MortalityTableY],
[Timing], [CalculationMethod], [IssueAge])
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Parameter Name |
Description |
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AgeX |
Current age of the primary annuitant 𝑥 (i.e. the age at the valuation date).
May be provided as an integer, or as a fractional amount (e.g. years &
months). |
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AgeY |
Current age of the secondary annuitant 𝑦
(i.e. the age at the valuation date). May be provided as an integer, or as a
fractional amount (e.g. years & months). |
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InterestRate |
The interest rate(s) to discount future
payments to calculate the present value. May be a number, a percentage, a
text string, a named range, or reference to a range. ·
Rates
can be defined using these interest definitions. ·
Note:
A value that is greater than 25% (i.e. 0.25) will be divided by 100; e.g.
if you enter 2.75 it will be treated as .0275 or 2.75%. |
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MortalityTableX |
Mortality
table definition text string for primary annuitant 𝑥. |
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MortalityTableY |
Mortality
table definition text string for secondary annuitant 𝑦. |
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Timing |
Defines when the death benefit
is paid.
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CalculatonMethod |
How to handle fractional ages.
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IssueAge |
If
using generational mortality projection, age at issue. |