Parameter Name

Description

FractionXY

The fraction (e.g., 50% or .5) payable while both 𝑥 and 𝑦 are alive.

FractionX

The fraction (e.g., 50% or .5) payable to 𝑥 after 𝑦 has died.

FractionY

The fraction (e.g., 50% or .5) payable to 𝑦 after 𝑥 has died.

FractionN

The fraction (e.g., 50% or .5) payable for the remainder (if any) of the certain period after the death of both 𝑥 and 𝑦.

CurrentAgeX

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).

CurrentAgeY

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).

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%.

MortalityTableX

Mortality table definition text string for primary annuitant 𝑥.

YearsCertain

Number of years guaranteed payments. May be an integer, or a factional amount (e.g. years & months).
Optional, default = 0

Times12

TRUE or FALSE. Multiply the resulting factor by 12.
Optional, default = FALSE.