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Fundamental Actuarial Mathematics/Present Value Random Variables for Long-Term Insurance Coverages

Learning objectives
The Candidate will be able to perform calculations on the present value random variables associated with benefits and expenses for long term insurance coverages.

Learning outcomes
The Candidate will be able to:
 * 1) Identify the present value random variables associated with life insurance, endowment, and annuity payments for single lives, based on annual, 1/m-thly and continuous payment frequency.
 * 2) Calculate probabilities, means, variances and covariances for the random variables in 1., using fractional age or claims acceleration approximations where appropriate.
 * 3) Understand the relationships between the insurance, endowment, and annuity present value random variables in 1., and between their expected values.
 * 4) Calculate the effect of changes in underlying assumptions (e.g., mortality and interest).
 * 5) Identify and apply standard actuarial notation for the expected values of the random variables in 1.

Introduction to life insurance
In a life insurance policy, when the insured dies at a time within the coverage of the life insurance, the insurance company needs to pay a benefit for the insured at a certain time. The and the  of benefit payment depends on the terms stated in the contract, and the type of the life insurance. In this chapter, we will discuss some models for the payments of different types of life insurance, and perform some calculations related to them. Also, we will introduce some related actuarial notations.

Insurances payable at the moment of death
In this section, we will model some types of insurances payable at the moment of death, which is associated with the random variable $$T_x$$, and all insurances mentioned in this section are payable at the moment of death unless stated otherwise. In practice, the insurance is payable at the moment of death, since it is infeasible. However, with this theoretical assumption, some calculations can be more convenient.

Before modeling the insurances, we need to introduce a fundamental random variable:.

In the models discussed in, they differ in only the definitions of $$b_T$$ and $$v_T$$, and the model for $$n$$-year term life insurance is the basic one, and other models are just some modifications on this model. Because of this,.

We often want to know the of the present-value random variable so that we would somehow predict how much benefit will be paid, in the present value term. As a result, we have a special name for such expected value:

For simplicity, we will assume the benefit amount is one in the following models unless otherwise specified. If we want to change the benefit amount to other values, then we can just multiply it accordingly. For the insurances for which the benefit amount is varying, we can also change the benefit amounts "together" through appropriate multiplication.

n-year term life insurance
For $$n$$-year term life insurance, we have $$ b_T=\begin{cases}1,& T\le n;\\ 0,&T>n,\end{cases} $$ and $$ v_T=v^T,\quad T\ge 0 $$ ($$v$$ is the discount factor which is $$\frac{1}{1+i}$$, in which $$i$$ is the (annual) effective interest rate). Hence, $$Z=\begin{cases}v^T,&T\le n\\ 0,&T>n\end{cases}$$.

In this case, the actuarial present value, denoted by $$\bar A^1_{x:\overline n|}$$, is $$\mathbb E[Z]=\int_{0}^{n}v^tf_x(t)\,dt=\int_{0}^{n}v^t{}_tp_x \mu_{x+t}\,dt$$. Here, we use the result $$f_x(t)={}_tp_x\mu_{x+t}$$ from the ../Mortality Models chapter.

The notation for the APV may seem weird at first, but after knowing the meaning of each of symbols involved, the notation will make more sense. Indeed, the other notations for the APV in other types of life insurance are constructed in a similar way. The meaning of the symbols involved is as follows:
 * $$A$$ means "a life insurance".
 * $$\bar{}$$ (on top of $$A$$) means this APV is "in a continuous manner" (since the benefit is paid of death, the APV is "somehow continuous").
 * $$x$$ means the insured is aged $$x$$ at the time of policy issue.
 * $$:\overline n|$$ means the term of the life insurance is $$n$$ years.
 * $$1$$ on top of $$x$$ (and "before" $$:\overline n|$$) means the benefit of amount 1 is paid to the insured (aged $$x$$ at the time of policy issue), if he dies $$n$$ years passed from the time of policy issue.

Whole life insurance
For whole life insurance, it can be interpreted as a "$$\infty$$-year term life insurance", and so payment will be eventually provided since no one lives for eternity. To be more precise, its definition is as follows:

For whole life insurance, we have $$b_T=1,\quad t\ge 0$$, $$v_T=v^T,\quad T\ge 0$$, and thus $$Z=v^T,\quad t\ge 0$$. The APV, denoted by $$\bar A_x$$, is $$\int_{0}^{\infty}v^t{}_tp_x\mu_{x+t}\,dt$$.

In the notation, we omit the "$$1$$" and "$$:\overline n|$$" appearing in the notation of APV for $$n$$-year term life insurance., since for whole life insurnace, the "term" does not exist (or is "infinite"). Also, the benefit must be paid eventually, and so there is no need to emphasize the benefit payment, unlike above, where the benefit may or may not be paid, depending on how long the insured live.

n-year pure endowment
The $$n$$-year pure endowment is similar to the $$n$$-year term life insurance in some sense, but the in the $$n$$-year term life insurnace is replaced by the  (i.e. benefit is paid when the insured survives for, but not dies within, $$n$$ years) in the $$n$$-year pure endowment.

For $$n$$-year pure endowment, we have $$b_T=\begin{cases}0,&T\le n;\\ 1,&T>n\end{cases}$$, $$v_T=v^n,\quad T\ge 0$$. Hence, $$Z=\begin{cases}0,&T \le n;\\ v^n,&T>n.\end{cases}$$. The APV, denoted by $$A^{\;\;1}_{x:\overline n|}$$, is $$\int_{n}^{\infty}v^nf_x(t)\,dt=v^n\int_{n}^{\infty}f_x(t)\,dt=v^n\mathbb P(T_x>n)=v^n{}_np_x$$.

Since this notation may look a bit clumsy, there is an alternative notation: $$_n E_x$$.

In the notation, there is no $$\bar{}$$ on top of $$A$$, since the benefit is paid at a fixed timing, so the APV is "not quite in a continuous manner". Also, the "$$1$$" is placed on top of "$$:\overline n|$$", since the benefit (if exists) is paid the end of $$n$$th year (or time $$n$$).

n-year endowment insurance
The $$n$$-year endowment insurance is not endowment. Instead, it is a mixture between $$n$$-year term life insurance and $$n$$-year endowment. That is, both death and survival benefits exist. Because of this, this type of insurance is similar to to whole life insurance, in the sense that benefit must be paid.

For $$n$$-year endowment insurance, we have $$b_T=1,\quad T\ge 0$$, $$v_T=\begin{cases}v^T,&T\le n;\\ v^n,&T>n\end{cases}$$, and thus $$Z=\begin{cases}v^T,& T\le n;\\ v^n,&T>n.\end{cases}$$ We can observe that $$Z$$ in this case is the sum of $$Z$$ for $$n$$-year term life insurance and $$Z$$ for $$n$$-year pure endowment. It follows that the APV is also the sum of the two corresponding APV's, that is, the APV for $$n$$-year endowment insurance is $$\bar A_{x:\overline n|}^1+A_{x:\overline n|}^{\;\;1}$$. Such APV is denoted by $$\bar A_{x:\overline n|}$$.

In the notation, we can see that there is a $$\bar{}$$ on top of $$A$$, since the benefit may be paid at the moment of the death of the insured, so the APV is somehow "in a continuous manner". Also, the "$$1$$" is omitted, with the same reason for whole life insurance: the benefit must be paid.

m-year deferred whole life insurance
As suggested by its name, this type of insurance is a deferred whole life insurance, i.e. the "start" of the insurance takes place in some years after the policy issue. To be more precise, we have the following definition.

For $$m$$-year deferred insurance, we have $$b_T=\begin{cases}0,&T\le m;\\1,&T>m\end{cases}$$, $$v_T=v^T,\quad T\ge 0$$ , and thus $$Z=\begin{cases}0,&T\le m;\\v^T,&T>m.\end{cases}$$

The APV, denoted by $$_{m|}\bar A_x$$, is $$\int_{m}^{\infty}v^t{}_tp_x\mu_{x+t}\,dt$$, which is similar to the one for whole life insurance, except that the lower bound of the integral is replaced by $$m$$. The "$$m|$$" in the notation refers to deferring $$m$$ years, and since the insurance does not have a term, "$$:\overline n|$$" is omitted.

m-year deferred n-year term life insurance
In a similar manner, we can also defer a $$n$$-year term life insurance.

For such insurance, we have $$b_T=\begin{cases}0,& T\le m;\\1,& mm+n\end{cases}$$, $$v_T=v^T,\quad T\ge 0$$. Thus, $$Z=\begin{cases}0,& T\le m;\\v^T,&mm+n.\end{cases}$$

The APV, denoted by $$_{m|n}\bar A_x$$, is $$\int_{m}^{m+n}v^t{}_tp_x\mu_{x+t}\,dt$$, which is similar to the one for the $$n$$-year term life insurance, except that both the lower and upper bound is added by $$m$$. In the notation, $$m|n$$ means that $$m$$ years are deferred and the term is $$n$$ years after the deferral, i.e. the insurance lasts for $$n$$ years after deferred by $$m$$ years. This has the similar meaning as the "$$m|n$$" in "$$_{m|n}q_x$$". Indeed, this is how "$$m|n$$" means in actuarial notations.

Annually increasing whole life insurance
Starting from this section, we will discuss the life insurances for which the benefit amount is varying.

For the annually increasing whole life insurance, we have $$b_T=\lfloor T\rfloor +1,\quad T\ge 0$$ , $$v_T=v^T,\quad T\ge 0$$, and thus $$Z=(\lfloor T\rfloor +1)v^T,\quad T\ge 0$$. Graphically, the value of benefit function $$b_T$$ is illustrated below: b_T =       1    2     3 /\   /\    /\           /  \  /  \  /  \          /    \/    \/    \        --*-*-*-*-          0     1     2     3  ... The APV, denoted by $$(I\bar A)_x$$, is $$\int_{0}^{\infty}(\lfloor t\rfloor+1) v^t{}_tp_x\mu_{x+t}\,dt$$. In practice, since it is difficult to integrate "$$\lfloor t\rfloor$$", we will split the integration interval to $$[0,1),[1,2),\dotsc$$, and multiple integrals are created from this, so that in each of these intervals, $$\lfloor t\rfloor$$ equals an integer only. That is, we split the integral like this: $$\int_{0}^{\infty}(\lfloor t\rfloor+1) v^t{}_tp_x\mu_{x+t}\,dt=\int_{0}^{1}v^t{}_tp_x\mu_{x+t}\,dt+\int_{1}^{2}2v^t{}_tp_x\mu_{x+t}\,dt+\int_{2}^{3}3v^t{}_tp_x\mu_{x+t}\,dt+\dotsb$$, which is an infinite sum.

In the notation, the "$$I$$" stands for "increasing" (annually), and we add a bracket so that the notation is not to be confused with $$I\cdot \bar A_x$$.

Annually increasing n-year term life insurance
When we "strip off" the benefit starting from year $$n+1$$ and onward, we obtain an annually increasing $$n$$-year insurance. To be more precise, we have the following definition:

For this insurance, we have a slightly different benefit function: Thus, $$Z=\begin{cases}(\lfloor T\rfloor+1) v^T,& T\le n;\\ 0,& T>n.\end{cases}$$
 * $$b_T=\begin{cases}\lfloor T\rfloor+1,& T\le n;\\ 0,& T>n\end{cases}$$ and
 * $$v_T=v^T,\quad t\ge 0$$.

Graphically, the benefit function looks like: b_T =       1    2     3    ... n           /\    /\    /\            / \ / \  /  \  /  \          /   \          /    \/    \/    \        /     \        --*-*-*-*---*--*-          0     1     2     3  ... n-1     n

The APV, denoted by $$(I\bar A)_{x:\overline n|}^1=\int_{0}^{n}(\lfloor t\rfloor+1) v^t{}_tp_x\mu_{x+t}\,dt$$. We have "$$x:\overline n|$$" instead of $$x$$ in the notation, since this is a term life insurance.

Annually decreasing n-year term life insurance
Similarly, we have annually decreasing $$n$$-year insurance, but the benefit does not "start" at 1.

The benefit function is $$b_T=\begin{cases}n-\lfloor T\rfloor,& T\le n;\\ 0,& T>n.\end{cases}$$, the discount function is $$v_T=v^T,\quad T\ge 0$$. Thus, $$Z=\begin{cases}(n-\lfloor T\rfloor)v^T,& T\le n;\\ 0,& T>n.\end{cases}$$ Graphically, the benefit function looks like: b_T =       n    n-1   n-2  ... 1           /\    /\    /\            / \           /  \  /  \  /  \          /   \          /    \/    \/    \        /     \        --*-*-*-*---*--*-          0     1     2     3  ... n-1     n The APV, denoted by $$(D\bar A)_{x:\overline n|}^1$$, equals $$\int_{0}^{n}(n-\lfloor t\rfloor)v^t{}_tp_x\mu_{x+t}\,dt$$. We have "$$D$$" instead of "$$I$$" in the notation to reflect that the insurance is rather than increasing.

m-thly increasing whole life insurance
This is a "more frequent" version of the annually increasing whole life insurance.

The benefit function is $$b_T=\frac{\lfloor mT\rfloor+1}{m},\quad T\ge 0$$, the discount function is $$v_T=v^T,\quad T\ge 0$$, and thus $$Z=\frac{\lfloor mT\rfloor+1}{m}v^T,\quad T\ge 0$$. Graphically, the benefit function looks like: b_T =     1/m   2/m   3/m /\   /\    /\           /  \  /  \  /  \          /    \/    \/    \        --*-*-*-*-          0    1/m   2/m   3/m ... The APV, denoted by $$(I^{(m)}\bar A)_x$$, is $$\int_{0}^{\infty}\frac{\lfloor mt\rfloor+1}{m}v^t{}_tp_x\mu_{x+t}\,dt$$. The "$$I^{(m)}$$" in the notation reflects that the insurance is increasing.

Continuously increasing whole life insurance
We can further increasing the frequency and obtain a "continuous" version of the annually increasing whole life insurance. This version is a bit theoretical, and there may not be such kind of insurance in real life. However, the calculation is simpler using this continuous model, as we will see.

Its APV, denoted by $$(\bar I\bar A)_x$$, is $$\int_{0}^{\infty}tv^t{}_t p_x\mu_{x+t}\,dt$$. There is a "$$\bar{}$$" in the notation, since the increase is continuous.
 * The benefit function is $$b_T=T,\quad T\ge 0$$, and
 * the discount function is $$v_T=v^T,\quad T\ge 0$$, and
 * thus, $$Z=Tv^T,\quad T\ge 0$$.

m-thly and continuously increasing n-year term life insurance
We can modify slightly $$m$$-thly/continuously increasing whole life insurance to $$m$$thly/continuously increasing $$n$$-year term life insurance, which is similar to the previous case for modifying annually increasing whole life insurance to annually increasing $$n$$-year term life insurance.

Despite their definitions are quite similar to the whole life insurance counterparts, we still include their definition as follows for completeness.

For $$m$$-thly increasing $$n$$-year term life insurance, the benefit function is $$b_T=\begin{cases}\frac{\lfloor mT\rfloor+1}{m},& T\le n;\\0,&T>n\end{cases}$$, the discount function is $$v_T=v^T,\quad T\ge 0$$, and thus $$Z=\begin{cases}\frac{\lfloor mT\rfloor+1}{m}v^T,& T\le n;\\0,&T>n.\end{cases}$$ Hence, the APV, denoted by $$(I^{(m)}\bar A)_{x:\overline n|}$$, is $$\int_{0}^{n}\frac{\lfloor mt\rfloor+1}{m}v^t{}_t p_x\mu_{x+t}\,dt$$ ("$$:\overline n|$$" is added to the notation to represent the $$n$$-year term).

For continuously increasing $$n$$-year whole life insurance, the benefit function is $$b_T=\begin{cases}T,& T\le n;\\ 0,& T>n\\\end{cases}$$, the discount function is $$v_T=v^T,\quad T\ge 0$$. Thus, $$Z=\begin{cases}Tv^T,&T\le n;\\0,&T>n.\end{cases}$$ Hence, the APV, denoted by $$(\bar I\bar A)_{x:\overline n|}$$, is $$\int_{0}^{n}tv^t{}_t p_x\mu_{x+t}\,dt.$$

Of course, we can also have $$m$$-thly/continuously whole/$$n$$-year term life insurance, and their APV notations are constructed in a similar manner. But, to avoid being repetitive, these insurances are omitted here.

Rule of moments
We have discussed how to calculate the actuarial present value, which is $$\mathbb E[Z]$$. How about the higher moments: $$\mathbb E[Z^2],\mathbb E[Z^3],\dotsc$$? We will provide a convenient way (for some type of insurance) below to calculate those moments by using the actuarial present value ($$\mathbb E[Z]$$), namely.

Because of this result, we introduce some special notation for the higher moment: we add a "$$j$$" in the upper left corner of the notation when we are discussing the $$j$$th moment of $$Z$$, rather than actuarial present value of the concerning insurance. For example, we use $$^2 \bar A_x$$ to denote $$\mathbb E[Z^2]$$ in which $$Z$$ is the present-value random variable for the whole life insurance.

Insurance payable at the end of the year of death
In practice, it is uncommon that the benefit is paid of death. Instead, it is more common to pay the benefit at the end of the year of death (or may be in other time unit, e.g. at the end of month of death, etc.). In this case, we can just modify the benefit function and discount function in the previous section slightly, and then we can calculate the actuarial present value under this assumption similarly.

Under this case, the present-value random variable is defined using $$K$$ ($$K=K_x$$) instead of $$T$$. Since the payment is made at the of the year of death, but $$K$$ gives the time at the  of the year of death. Because of this, the input of benefit function and discount function is $$K+1$$, rather than $$K$$. Then, we have the present-value random variable $$Z=b_{K+1}v_{K+1}$$.

For example, when a life aged 50 dies at the middle between age 53 and 54, then benefit is paid at age 54. Graphically, death benefit paid | |                        v v ---*-*-*-*-* 50   51    52     53    54

Basically, the different insurance models under this assumption are quite similar to the corresponding one under previous assumption, except that the present-value random variable $$Z$$ is now rather than continuous (since $$K$$ is discrete), and thus to calculate the actuarial present value (expected value of $$Z$$) here, we need to use instead of integration.

For notations, the notations here are highly similar to the one under previous assumption, except that the $$\bar{}$$ on top of $$A$$ (if exists) is removed, since the APV is now "in a discrete manner". Again, we assume the amount of benefit is one unless otherwise specified.

Let us discuss the model for $$n$$-year term life insurance under this assumption. For other models, we can just build them from this model, in a similar way as in the previous section.

Before the discussion, we need to recall that the pmf $$\mathbb P(K_x=k)={}_kp_x q_{x+k}$$.

For $$n$$-year term life insurance, Thus, the present-value random variable $$Z=\begin{cases}v^{K+1},&K=0,1,\dotsc,n-1;\\0,&K=n,n+1,\dotsc\end{cases}$$
 * the benefit function is $$b_{K+1}=\begin{cases}1,&K=0,1,\dotsc,n-1;\\0,&K=n,n+1,\dotsc\end{cases}$$, and
 * the discount function is $$v_{K+1}=v^{K+1},\quad K=0,1,\dotsc$$.

As a result, the APV is $$\mathbb E[Z]=\sum_{k=0}^{n-1}v^{k+1}\mathbb P(K_x=k)=\sum_{k=0}^{n-1}v^{k+1}{}_kp_x q_{x+k}$$, and as we mentioned, its notation is basically the same as previous one, except that the $$\bar{}$$ is removed. That is, the notation is $$A^1_{x:\overline n|}$$.

For other types of insurance, they are defined in a similar manner. Since you should be now quite familiar with those types of insurance, we simply summarize most of the definitions for different types of insurance (under the discrete assumption) in the following table:

We should notice that there is no continuously increasing whole life/ $$n$$-year term life insurance under this discrete assumption, since the payment is made discretely, and hence the payment cannot be increasing.

For the, it is quite different from the previous deviation for the continuous one. Let us illustrate the deviation for $$m$$-thly increasing whole life insurance as follows. For the $$m$$-thly increasing $$n$$-year term life insurance, the deviation can be done in a similar manner.

Before discussing $$m$$-thly increasing whole life insurance, we should discuss similar insurances where payment is made $$m$$-thly, and the payment is not varying first.

In financial mathematics, you may have encountered similar situations: annuities where payments are made $$m$$-thly, instead of annually. In that case, we can simply calculate the equivalent $$m$$-thly interest rate corresponding to the annual interest rate, and then treat such annuities as ordinary one (i.e. annuities payable annually), so that the calculation process is the same as the ordinary annuities.

However, in the current context, we also incorporate the survival probabilities in the calculation, and we define the time-until-death random variable using as units. Thus, $$K$$ is in the unit of, and we cannot convert $$K$$ to some other "equivalent $$m$$-thly $$K$$" using simple ways. As a result, we need to develop some methods and formulas for the insurance payable $$m$$-thly.

Consider the following diagram: death benefit | |              v  v --*--...--*--*-...-*-...-*-- x ... x+k  x+k+1/m  ...  x+k+j/m  ... x+k+1 In this type of insurance, the benefit is paid at the end of the $$m$$thly interval where death occurs, instead of at the end of the year where death occurs.

We can observe that when death occurs in any $$m$$-thly interval within one year, say from year $$k$$ to $$k+1$$, the value of $$K$$ is the same, which is $$k$$. Because of this, to perform calculations related to this kind of insurance, we need to introduce, say $$J$$, to consider within one year does death occur.

Recall that $$K$$ represents the number of complete years lived before death. Hence, it is natural to define $$J$$ in a similar manner, namely the number of complete lived in the year of death, before death. Using this definition of $$J$$, we know that $$J$$ can only take values of $$0,1,\dotsc,m-1$$.

Using these definitions, we can define, for example, the benefit, discount function, present-value random variable of whole life insurance payable $$m$$-thly as follows: Since there are two random variables involved, the calculation of APV is more complicated. We first consider the joint pmf of $$K$$ and $$J$$: since $$\mathbb P(K=k\text{ and }J=j)=\mathbb P\left(\text{the person dies between time }k+\frac{j}{m}\text{ and }k+\frac{j+1}{m}\right) =\mathbb P\left(k+\frac{j}{m}\le T\le k+\frac{j+1}{m}\right) ={}_{k+\frac{j}{m}}p_x \;_{\frac{1}{m}}q_{x+k+\frac{j}{m}}$$, the joint pmf of $$K$$ and $$J$$ is $$f_{K,J}(k,j)={}_{k+\frac{j}{m}}p_x\;_{\frac{1}{m}}q_{x+k+\frac{j}{m}}$$. It follows by the definition of expectation that the APV is $$A_x^{(m)}=\sum_{k=0}^{\infty}\sum_{j=0}^{m-1}v^{k+\frac{j+1}{m}}{}_{k+\frac{j}{m}}p_x\;_{\frac{1}{m}}q_{x+k+\frac{j}{m}}.$$ Notice that the APV notation has an extra "$$(m)$$" at the upper-right corner of "$$A$$" to represent that this insurance is payable $$m$$-thly.
 * the benefit function is $$1,\quad K=0,1,\dotsc,\text{ and } J=0,1,\dotsc,m-1$$;
 * the discount function is $$v^{K+\frac{J+1}{m}},\quad K=0,1,\dotsc\text{ and }J=0,1,\dotsc,m-1$$;
 * the present-value random variable is $$v^{K+\frac{J+1}{m}},\quad K=0,1,\dotsc,\text{ and }J=0,1,\dotsc,m-1$$.

After understanding the construction of this insurance, we can construct other types of insurance that are also payable $$m$$-thly similarly. Also, their APV notations also have an extra "$$(m)$$" added at the upper-right corner of "$$A$$".

Besides, we can apply this "$$m$$-thly concept" to the frequency of increasing/decreasing payment. To illustrate this, let us consider the. The benefit function is $$K+\frac{J+1}{m},\quad K=0,1,\dotsc,n-1,\text{ and }J=0,1,\dotsc,m-1$$, the discount function is $$v^{K+1},\quad K=0,1,\dotsc$$, and thus the present-value random variable is $$\left(K+\frac{J+1}{m}\right)v^{K+1},\quad K=0,1,\dotsc,n-1,\text{ and }J=0,1,\dotsc,m-1$$. It follows that the APV is $$(I^{(m)}A)_{x:\overline n|}=\sum_{k=0}^{n-1}\sum_{j=0}^{m-1}\left(k+\frac{j+1}{m}\right)v^{k+1}{}_{k+\frac{j}{m}}p_x\;_{\frac{1}{m}}q_{x+k+\frac{j}{m}},$$ where there is an additional "$$(m)$$" at the upper-right corner of "$$I$$" to represent that the increase is $$m$$-thly.

Recursion relations of APV's
For the insurances payable at the end of the year of death, we can develop recursion relations for them. These recursion relations can be useful when we need to calculate some APV's, given some other APV's and related terms only. Also, these recursion relations can give some insights about the relationship between different APV's in some sense. The following proposition includes some recursion relations, where the their deviations contain similar idea.

Actuarial discounting
One of the key ideas in the intuitive explanations to these recursive relations is the concept of. To understand this, let us consider the intuitive explanation to the above recursion relation 2. Graphically, the idea in the recursion looks like "actuarial discounting" *---  |   \   v    \ ||     A x+1:n-1 |-|                      A x:1= vq_x |--|     A x:n ---*-*...**---  x    x+1   ... x+n-1 x+n   age We "split" the $$n$$-year term life insurance issued to a person aged $$x$$ into two parts: as illustrated in the above graph. The corresponding APV's to these two insurances are $$A^1_{x:\overline 1|}$$ and $$A^{\;\;1}_{x+1:\overline {n-1}|}$$ respectively.
 * 1-year term life insurance issued to a person aged $$x$$, and
 * $$n-1$$-year term life insurance issued to a person aged $$x+1$$,

Of course, we cannot simply regard the APV of $$n$$-year term life insurance issued to the life aged $$x$$ as $$A^1_{x:\overline 1|}+A^{\;\;1}_{x+1:\overline {n-1}|}$$ directly, since $$A^{\;\;1}_{x+1:\overline {n-1}|}$$ is not for a life aged $$x$$. Instead, it is for a life aged $$x+1$$. Hence, adjustment needs to be made on this insurance, and the process of doing this adjustment is called "actuarial discounting".

In financial mathematics, discounting means multiplying the, where the effect of interest is considered. On the other hand, in this context, the interest effect, we also have "survival effect", that is, we also need to consider the survival probabilities of a life.

To be more precise, "$$n-1$$-year term life insurance issued to a person aged $$x+1$$" only takes into effect the person aged $$x$$ actually lives to age $$x+1$$. Otherwise, if the person dies within the first year, there is not any "life aged $$x+1$$". Thus, apart from multiplying the discounting factor, we also need to multiply the "survival factor".

In this case, the discounting factor is $$v$$ since 1 year is discounted back, and the "survival factor" is $$p_x$$ since the person aged $$x$$ is required to live for 1 year for the $$n-1$$-year term life insurance to take into effect, and we need to multiply this probability to ensure that this happens (the multiplication of probability is related to the "conditional" concept in probability). Since we need to multiply both $$v$$ and $$p_x$$ in this case, the term $$vp_x$$ is called "actuarial discount factor" (notice that this is actually the APV of a 1-year pure endowment).

Of course, it may not be convincing if we just say multiplying such probability can do this. Thus, let us explain the theory behind this intuition in the following. Recall that $$A_{x:\overline n|}^1=\mathbb E[Z]$$, where $$Z$$ is the present-value random variable for the $$n$$-year term life insurance issued to the person aged $$x$$. Now, we apply a result in probability ("generalized" law of total probability) to get the following equation: $$\mathbb E[Z]=\mathbb E[Z|K=0]\mathbb P(K=0)+\mathbb E[Z|K=1,2,\dotsc]\mathbb P(K=1,2,\dotsc).$$ Notice that the event $$\{K=0\}$$ means the person dies within first year, and the event $$\{K=1,2,\dotsc\}$$ means the person lives to age $$x+1$$. After noticing these, we know that $$\mathbb E[Z|K=0]=A_{x:\overline 1|}^1$$, since given that $$K=0$$, it is impossible to have the benefit after age $$x+1$$, that is, the only possibility for getting benefit is that a life aged $$x$$ dies within first year. So, $$\mathbb E[Z|K=0]$$ is essentially the same as the APV of a 1-year term life insurance issued to a person aged $$x$$. Also, we know that $$\mathbb P(K=0)=q_x$$ since this is the probability for the person aged $$x$$ to die within first year. On the other hand, $$\mathbb E[Z|K=1,2,\dotsc]$$ is essentially the same as the APV of a $$n-1$$-year term life issued to a person aged $$x+1$$, since given that $$K=1,2,\dotsc$$, the benefit can only possibly be made at age $$x+2,x+3,\dotsc,x_n$$. These are time 1,2,...,$$n-1$$ with respect to a life aged $$x+1$$. Since the benefits in this APV are made with respect to a life aged $$x+1$$, to convert this APV to the APV for a person aged $$x$$, we need to discount back the benefit for 1-year, i.e. multiplying $$v$$. Now, consider the probability $$\mathbb P(K=1,2,\dotsc)$$. Since this probability is the probability for the person aged $$x$$ to live for 1 year, i.e. live to age $$x+1$$, we have $$\mathbb P(K=1,2,\dotsc)=p_x$$. Thus, we can obtain the recursion relation $$A_{x:\overline n|}^1=vq_x+vp_x A^{\;\;1}_{x+1:\overline{n-1}|}.$$

In financial mathematics, when we want to discount back $$n$$ years, we multiply the discount factor. However, in this case, when we want to "actuarially" discount back $$n$$ years, we are multiplying $$vp_x$$ to the power $$n$$. The reason for this is due to the "survival part" of the actuarial discount factor: the probability for a person to survive for $$n$$ years is not $$p_x^n$$ (unless constant force assumption is assumed). Instead, the probability is given by $$_n p_x$$. Hence, when we want to "actuarially" discount back $$n$$ years, we are multiplying $$v^n {}_n p_x$$, which is actually the APV of $$n$$-year pure endowment (in other words, the APV of a particular payment made at time $$n$$ can be obtained by "actuarially" discount it back to time 0. This idea will be useful when we discuss life annuities).

Intuitive explanations
Now, we are ready to explain the recursion relations intuitively.

 * recursion relation 2: we first extract 1-year term life insurance ($$vq_x$$) from the $$n$$-year term life insurance ($$A^1_{x:\overline n|}$$). Then, the remaining part of insurance is a $$n-1$$-year term life insurance with respect to $$(x+1)$$ ($$A^{\;\;1}_{x+1:\overline{n-1}|}$$). After that, we actuarially discount by 1 year (multiply $$vp_x$$) the remaining part of insurance..
 * recursion relation 3: notice that we can split the endowment insurance to term life insurance and pure endowment. For the term life insurance part, it follows from relation 2. For the pure endowment part, the pure endowment at RHS ($$_{n-1}E_{x+1}$$) is with respect to $$(x+1)$$, and thus we actuarially discount it by 1 year (multiply $$vp_x$$) to get the pure endowment at LHS ($$_n E_x$$). Thus, we have $$_n E_x=vp_x {}_{n-1}E_{x+1}$$, and the relation follows.
 * recursion relation 4: we consider the $$m$$-year deferred $$n$$-year term life insurance issued to a life aged $$x$$ ($$_{m|n}A_x$$) a life aged $$x+1$$. Then, from this point of view, the APV is $$_{m-1|n} A_{x+1}$$ (since with respect to a life aged $$x+1$$, such insurance is just deferred for $$m-1$$ years, and its term is still $$n$$ years (from age $$x+1+m-1$$ to $$x+m+n$$). After that, we actuarially discount this insurance back 1 year (multiply $$vp_x$$).
 * recursion relation 6: we first extract the "first year part" ($$nvq_x$$) out. Then, the remaining part is an annually decreasing $$n-1$$-year term life insurance with respect to $$(x+1)$$ ($$(DA)_{x+1:\overline{n-1}}^{\;\;1}$$). After that, we actuarially discount the remaining part back 1 year (multiply $$vp_x$$).
 * recursion relation 7: we first extract benefit of 1 from each original benefit to get a whole life insurance (with benefit of 1) ($$A_x$$). Then, the remaining part of insurance is an annually increasing whole life insurance with respect to $$(x+1)$$ ($$(IA)_{x+1}$$). After that, we actuarially discount the remaining part back 1 year (multiply $$vp_x$$).

Now, you may ask that there are some similar recursion relations holds for insurances. The answer is yes, but since the insurances are continuous, the relations may get more complicated. Also, such relations are generally not quite useful, since often there are more than one type of insurance involved in the relation, and also we often are not given the values of APV of insurances directly, which is theoretical.

For instance, we have $$\bar A_x=\bar A_{x:\overline 1|}+vp_x\bar A_{x+1}$$, which is analogous to the recursion relation 1 for the discrete insurance above. But, this relation is not very helpful actually, since we need to have the values of $$\bar A_x$$, $$\bar A_{x:\overline 1|}$$, $$p_x$$ and $$v$$ to get $$\bar A_{x+1}$$, but often we do not have such information.

Indeed, instead of such relationship of APV between integer ages ($$x$$ vs. $$x+1$$), which is applicable to discrete insurances. To have the idea about relationship of APV between different ages for continuous insurances, it is better for us to consider the of the APV.

Recursion relations in continuous case: differential equations
We can also develop "recursion relations" of APV's of insurances. Since the insurances are continuous, we can use to have some "recursions". To understand this more clearly, let us consider the following example.

Incorporating selection ages to insurances
We have discussed the idea of in the previous chapter. We can also use the selection ages for the ages in the insurances. For example, we can have $$A_{[x]},\bar A_{[x]+1:\overline{n}|},{}_n E_{[x]},$$ etc. However, it is more common to calculate the APV's involving selection ages, since the life table is usually given in a discrete form, so it is often only possible to calculate the discrete, rather than continuous APV's. To calculate the values of these APV's, we usually obtain the value of different terms related to the survival probability from the life table, as discussed in the previous chapter.

Connections between continuous and discrete insurances
We have discussed continuous insurances where the benefit is payable at the moment of death ("$$\bar A$$") and discrete insurances where the benefit is payable at the end of year of death ("$$A$$"), and we know that in practice, discrete insurances are more common than continuous insurances. However, in terms of the calculations, the calculations of APV for continuous insurances (which involve integral) are often more convenient and simple than the calculations of APV for discrete insurances (which involve summation), particularly in the case that there is no special "nice" formula to calculate the summation, where we may actually need to calculate the terms one by one and sum them up, which can be quite complicated and tedious.

This motivates us to find some relationships between the APV of continuous and discrete insurances, so that we can use the APV of continuous insurances (which is often more convenient to calculate) to calculate the APV of discrete insurances, which makes the calculation of the APV of discrete insurances simpler.

Of course, the following relationship has some limitations. Otherwise, if the relationship holds for every insurance with no further assumptions made, then we can simply calculate the APV's of continuous insurances and then apply the relationship, and therefore we do not need to develop the formula for APV's of discrete insurances at all!

Indeed, we need to have the UDD assumption (from previous chapter) to develop such relationship for insurances.

Introduction to life annuities
In the previous discussion about life insurance, the benefit payment is. Now, we will discuss another type of product, namely, which is.

For, a series of payments are made (for continuous life annuities), or at equal intervals (for discrete life annuities), where the  may be years, quarters, months, etc., , that is, the life only receives these payments when he survives. Hence, these payments can be regarded as.

Similar to life insurance, may or may not have a term. For life annuity with term, we call such life annuities as (since the payments are only made  for a certain interval, and even if the life still survives after that interval, no payments will be made). On the other hand, for life annuities without term, they are similarly called.

In financial mathematics, we have learnt about various types of annuities, where the payments are made (not contingent on survival). Hence, they can be called. Many concepts and formulas developed there can apply to life annuities. For example, there are life annuity-immediate, lie annuity-due, continuous life annuity, etc.

Even if is not a life insurance itself, it is still quite important in life insurance operations. For example, we will later see that life insurances are often purchased using a life annuity of premium, instead of a single premium. Also, in retirement plans for workers, are often involved, where the payments begin at retirement, and to purchase such annuities, the workers contribute payments, in the form of, while they are actively working. Such annuities can ensure that the workers still have some stable incomes even after retirement.

Continuous life annuities
Let us first discuss some life annuities payable at the rate of 1 per year (level payment), similar to the case of life insurance. Recall that we have discussed continuously paying $$n$$-year annuities-certain in financial mathematics $$\left(\bar a_{\overline n|}=\frac{1-v^n}{\delta}\right)$$. This will be useful for the following discussions related to the.

For life annuities, the present-value random variable is usually denoted by $$Y$$, instead of $$Z$$.

Whole life annuity
The present-value random variable for is thus $$Y=\bar a_{\overline T|},\quad T\ge 0.$$

Hence, the APV of this annuity, denoted by $$\bar a_x$$ (we use "$$a$$" for life annuity, and similarly we add "$$j$$" to the upper-left corner of the notation when we are discussing the $$j$$th moment of $$Y$$), is $$\mathbb E[Y]=\int_{0}^{\infty}\bar a_{\overline t|}{}_t p_x\mu_{x+t}\,dt.$$ Apparently, computing this integral can be somewhat complicated since "$$\bar a_{\overline t|}=\frac{1-v^t}{\delta}$$" is involved in the integral. Fortunately, there is an alternative, and often more convenient formula for calculating this APV, as shown in the following example.

We can apply the idea in the previous exercise to general cases, and such formula derived from the idea is called (CPT). In general, the is given by $$\text{APV}=\int_{0}^{\infty}\underbrace{v^t\times\mathbb P(\text{payments are being made at time }t)}_{\text{actuarial discounting to time zero}}\times\underbrace{(\text{payment rate at time }t)\,dt}_{\text{`amount' of payment at time }t}.$$

From the previous exercise, we have calculated the variance of the present-value random variable $$Y$$, and the calculation process is a bit complicated. Indeed, there are some alternative methods to calculate the variance (and also expectation) of the present-value random variable $$Y$$, by $$Y$$ with $$Z$$ (present-value random variable for life insurance).

n-year temporary life annuity
From this definition, we know that the present-value random variable for $$n$$-year temporary life annuity is $$Y=\begin{cases}\bar a_{\overline T|},& Tn)=\bar a_{\overline n|}{}_n p_x,$$ we can also write the APV as $$ \int_{0}^{n}\bar a_{\overline t|}{}_t p_x\mu_{x+t}\,dt+{}_n p_x\bar a_{\overline n|}. $$ But we often use the for calculating the APV instead: $$\bar a_{x:\overline n|}=\int_{0}^{n}v^t{}_t p_x\,dt.$$ (there are payments in the first $$n$$ years only, so from the current payment technique, the integration region is from $$t=0$$ to $$t=n$$)

For whole life annuity, we have some results that relate it with life insurance. Naturally, one may ask whether there are some similar results for $$n$$-year temporary life annuity. Indeed, there are similar results.

Recall that we have the following relationship between $$\bar a_{\overline n|}$$ and $$\bar s_{\overline n|}$$ in financial mathematics: $$\bar s_{\overline n|}=\bar a_{\overline n|}(1+i)^n=\frac{\bar a_{\overline n|}}{v^n}$$ (we accumulates the present value $$\bar a_{\overline n|}$$ to the end of $$n$$ years (multiply $$(1+i)^n$$) to get the accumulated value at the end of the $$n$$th year $$\bar s_{\overline n|}$$). Naturally, we will expect a similar kind of relationship should hold for $$n$$-year temporary life annuity. This is indeed true, but of course, there is a difference between the in financial mathematics and.

In this context, we call the value of APV at the end of $$n$$th year as (AAV). For the AAV of the $$n$$-year temporary life annuity, it is denoted by $$\bar s_{x:\overline n|}$$, and is given by $$\bar s_{x:\overline n|}=\frac{\bar a_{x:\overline n|}}{v^n{}_n p_x}$$ (Notice that this equation is similar to the above relationship between $$\bar a_{\overline n|}$$ and $$\bar s_{\overline n|}$$). We can interpret the above equation as "actuarially discounting (multiply $$v^n{}_n p_x$$) the AAV ($$\bar s_{x:\overline n|}$$) to time zero gives the APV ($$\bar a_{x:\overline n|}$$)". Graphically, actuarial discounting: v^n _n p_x *-*    /               \    |                 \    v                  | -                 -  a x:n              s x:n 0                 n   time

n-year deferred whole life annuity
Similar to insurances, we have life annuities. The idea involved is basically the same: the "start" of the life annuity starts some time later than the issue of the life annuity. This kind of life annuity is indeed quite common in real life. For instance, we may purchase a deferred whole life annuity before our retirement, so that we can receive income from the life annuity after our retirement, while we survive. This can ensure a stable income even the retirement, which should be quite desirable.

The present-value random variable is hence $$Y=\begin{cases}0,&T<n;\\ v^n\bar a_{\overline{T-n}|},& T\ge n.\\\end{cases}$$ Thus, its actuarial present value, denoted by $${}_{n|}\bar a_x$$, is $$\mathbb E[Y]=\int_{n}^{\infty}v^n\bar a_{\overline{t-n}|}{}_tp_x\mu_{x+t}\,dt.$$ Using current payment technique, we then have $$_{n|}\bar a_x=\int_{n}^{\infty}v^t{}_tp_x\,dt$$ (there are only payments starting from time $$n$$ (the end of $$n$$th year)).

n-year certain and life annuity
Let us discuss a new kind of concept that does not appear for insurances, and applies to annuities. For this kind of annuity, it is a "mixture" of annuity-certain (studied in financial mathematics) and life annuity.

The present-value random variable of the $$n$$-year certain and life annuity is $$ Y=\begin{cases}\bar a_{\overline n|},&T\le n;\\ \bar a_{\overline T|},& T>n.\end{cases} $$ Thus, the APV of this annuity, denoted by $$\bar a_{\overline{x:\overline n|}}$$, is $$ \mathbb E[Y]=\int_{0}^{n}\bar a_{\overline n|}{}_t p_x\mu_{x+t}\,dt +\int_{n}^{\infty}\bar a_{\overline t|}{}_t p_x\mu_{x+t}\,dt =\bar a_{\overline n|}\int_{0}^{n}{}_t p_x\mu_{x+t}\,dt +\int_{n}^{\infty}\bar a_{\overline t|}{}_t p_x\mu_{x+t}\,dt ={}_n q_x\bar a_{\overline n|} +\int_{n}^{\infty}\bar a_{\overline t|}{}_t p_x\mu_{x+t}\,dt. $$ Using current payment technique, we have $$ \bar a_{\overline{x:\overline n|}}=\underbrace{\bar a_{\overline n|}}_{\text{certainly made}}+\int_{n}^{\infty}v^t{}_t p_x\,dt. $$ In particular, there is no survival probability involved for the "certain" part of this annuity: $$\bar a_{\overline n|}$$.

From the definition, we can observe that when $$T>n$$, there are some payments contingent on survival, and it appears that those payments form a. This is indeed the case, as shown in the following exercise.

Just like annuities-certain, there are also other types of continuous annuities, e.g. annually (continuously) increasing (decreasing) continuous annuities. We can also denote their APV's, and calculate their APV's (using current payment technique) similarly: Of course, the payment patterns can also be a "mixture" of different kinds of patterns discussed, something that is irregular, etc. Then, for those life annuities, one can still calculate their APV using the current payment technique, by considering their present-value random variable from their definitions.
 * $$(\bar I\bar a)_x=\int_{0}^{\infty}tv^t{}_t p_x\,dt$$
 * $$(\bar I\bar a)_{x:\overline n|}=\int_{0}^{n}tv^t{}_t p_x\,dt$$
 * $$(I\bar a)_x=\int_{0}^{\infty}\lfloor t+1\rfloor v^t{}_t p_x\,dt$$
 * $$(I\bar a)_{x:\overline n|}=\int_{0}^{n}\lfloor t+1\rfloor v^t{}_t p_x\,dt$$
 * $$(\bar D\bar a)_{x:\overline n|}=\int_{0}^{n}(n-t)v^t{}_t p_x\,dt$$
 * $$(D\bar a)_{x:\overline n|}=\int_{0}^{n}(n-\lfloor t\rfloor)v^t{}_t p_x\,dt$$

Discrete life annuities
After discussing continuous life annuities, let us discuss life annuities. Just as the case for annuities-certain in financial mathematics, there are quite many types of discrete life annuities: Again, for the life annuities discussed in this section, the amount of each payment is one unless otherwise specified.
 * $$n$$-year temporary/whole life annuity
 * payable at the beginning/end of the year (due/immediate)
 * payable annually/$$m$$-thly
 * increasing/decreasing annually/$$m$$-thly

In general, the present-value random variable of the discrete life annuities is a function of $$K$$, say $$y(K)$$. Then, their actuarial present values have the form of $$\sum_{k}^{}y(k){}_kp_x q_{x+k}\quad (\text{definition}),$$ or using current payment technique, for the annuities with level payments of 1, their actuarial present values have the form of $$ \sum_{k}^{}v^k{}_k p_x. $$ Let us consider some simple cases first.

Whole life annuity-due (annuity-immediate)
For whole life annuity-due, the present-value random variable $$Y=\ddot a_{\overline{K+1}|},\quad K=0,1,\dotsc$$. The APV, denoted by $$\ddot a_{x}$$ is $$\sum_{k=0}^{\infty}\ddot a_{\overline{k+1}|}{}_k p_xq_{x+k}$$ by definition. Using current payment technique, we have $$\ddot a_x=\sum_{k=0}^{\infty}v^k{}_k p_x$$. We can observe that the formula developed by the current payment technique is much simpler.

One may ask that why $$Y$$ is defined to be $$\ddot a_{\overline{K+1}|}$$ instead of $$\ddot a_{\overline K|}$$. This is because the payment is made at the of each year. So, even if the annuitant does not survive the whole year, he will still get the payment at the beginning, so there is a "$$+1$$". To be more precise, suppose the annuitant dies between year $$k$$ and $$k+1$$ (i.e. within year $$k+1$$). Then, $$K=k$$, but the annuitant gets the payment at the beginning of year $$1,2,\dotsc,k+1$$, since he still survives at those time points. Therefore, the annuitant gets $$k+1$$ payments, and hence the present value is $$\ddot a_{\overline{k+1}|}$$.

It may appear that such annuity is advantageous to the annuitant, since the annuitant can get the payment for the whole year at the beginning of that year, even if he does not survive the whole year. In a later section, we will discuss a more "fair" life annuity-due:, which requires the annuitant to refund some part of the payment to the payer of the life annuity if the annuitant does not survive the whole year.

For the derivations of whole life annuity-immediate, see the following exercise.

n-year temporary life annuity-due (annuity-immediate)
Based on the definition, it should not be too hard to derive the present-value random variable and expressions of the APV of these annuities. The details are left to the following exercise.

n-year deferred whole life annuity-due (annuity-immediate)
Again, let's left the derivation of the present-value random variable and expressions of the APV of these annuities to the following exercise.

Life annuities-due (annuities-immediate) with m-thly payments
In practice, the payment frequency of the life annuities may not be annual. Instead, it can be semiannual, quarterly, monthly, etc. Thus, we will develop life annuities-due (annuities-immediate) payable $$m$$-thly here. For the annuities here, we assume the payment is 1 per year, payable in installments of $$1/m$$ at the beginning (or end) of every $$m$$-th of the year. Graphically, Annuity-due: 1/m 1/m   1/m         1/m --*-*-*...*-*- 0    1/m   2/m   ... 1-1/m 1      time Annuity-immediate: 1/m  1/m         1/m   1/m --*-*-*...*-*- 0    1/m   2/m   ... 1-1/m 1      time

We can develop the present-value random variable and APV using similar ideas as in the insurances payable $$m$$-thly: introducing a random variable $$J$$ that represents within one year does death occur. In the following, we will first develop the present-value random variable and APV for whole life with $$m$$-thly payment. Then, we will relate whole life payable $$m$$-thly with whole life  payable $$m$$-thly, so we can use the whole life with $$m$$-thly payment as a  for the calculation related to whole life  with $$m$$-thly payment.

For whole life annuity-due with $$m$$-thly payment, the present-value random variable is $$Y=\ddot a_{\overline {K+\frac{J+1}{m}}\big|}^{(m)}=\sum_{j=0}^{mK+J}\frac{1}{m}v^{j/m}=\frac{1-v^{K+\frac{J+1}{m}}}{d^{(m)}},\quad K=0,1,\dotsc,\text{ and }J=0,1,\dotsc,m-1.$$ Graphically, Annuity-due: death: K=k, J=m-2 | 1/m ...  1/m  1/m   1/m     ... 1/m  v     0         k   k+1/m  k+2/m   ... k+(m-2)/m  k+(m-1)/m  k+1      time It appears that the present-value random variable of this life annuity is quite complicated. Hence, the expression of the actuarial present value by definition will be quite complex, and therefore not useful for the actual calculation.

Thus, we will just use the and the following method to get an expression of the APV, denoted by $$\ddot a_x^{(m)}$$.

For the, we have $$\ddot a_x^{(m)}=\frac{1}{m}\sum_{j=0}^{\infty}v^{j/m}{}_{j/m}p_x.$$ However, the above two expressions can also be be quite difficult to be calculated sometimes. In particular, if we are not given $$A_x^{(m)}$$, it is complicated to calculate $$A_x^{(m)}$$, and then apply the relationship between $$\ddot a_x^{(m)}$$ and $$A_x^{(m)}$$. Also, for the current payment technique, we may the term in the sum may not be "nice", and so there may not be a formula for calculating the sum efficiently. Hence, in the following, we will give a third approach of expressing $$\ddot a_x^{(m)}$$, which relates it with $$\ddot a_x$$,.

Apart from the whole life annuity-due with $$m$$-thly payment, we can define $$n$$-year temporary life annuity-due with $$m$$-thly payment, $$n$$-year deferred whole life annuity-due with $$m$$-thly payment, etc., similarly. Their notations are constructed in a similar manner.

Now, we discuss whole life annuity-immediate with $$m$$-thly payment. As you may expect, the present-value random variable is quite similar: $$Y=a_{\overline{K+\frac{J}{m}\big|}}^{(m)},\quad K=0,1,\dotsc,\text{ and }J=0,1,\dotsc,m-1.$$ Graphically, Annuity-immediate: death: K=k, J=m-2 |    1/m  ....    1/m  1/m   1/m     ... 1/m   v     0     1           k   k+1/m  k+2/m   ... k+(m-2)/m  k+(m-1)/m  k+1      time By current payment technique, the actuarial present value of whole life annuity-immediate with $$m$$-thly payment, denoted by $$a_x^{(m)}$$, is $$a_x^{(m)}=\frac{1}{m}\sum_{j=1}^{\infty}v^{j/m}{}_{j/m} p_x.$$ Thus, we can relate $$a_x^{(m)}$$ to $$\ddot a_x^{(m)}$$, as follows.

Apportionable annuities-due and complete annuities-immediate
Previously, we have mentioned that the life annuities-due are advantageous to the annuitant, and the life annuities-immediate are advantageous to the payer. These cause some "unfairness", and the essential cause of this unfairness is that the annuities payments are, rather than continuous. (We do not have this issue if the payments are made continuously.) Thus, it is natural to address this issue by appropriately "converting" the discrete payments to some "equivalent" payments. This is the key idea for developing the and.

Let us the consider the case for whole life annuities-due (annuities immediate) first. In this case, these two kinds of annuities are addressing the unfairness issues in life annuities-immediate and  life annuities-due.

Let us first consider. Consider the following diagram. $1    |   die v   | -*--*- time k   t    k+1 \   /\    /      \  /  \  /       \/    \/    earned  unearned portion portion Suppose the annuitant receives an annual payment from the life annuity-due at time $$K=k$$ (i.e. at the beginning of year $$k+1$$), and then dies at time $$T=t$$ (within year $$k+1$$). In this case, the annuitant only lives for a portion of the year $$k+1$$, so he should just earn a "portion" of the benefit for the year $$k+1$$. To determine the size of the benefit earned, we assume the payments within each year are earned at a certain annual rate $$r$$ such that $$r\bar a_{\overline 1|}=1$$ (so that each stream of payments has the same present value (i.e. value at the beginning of the year) as the single payment made at the beginning of the year). Thus, in terms of the value at time $$t$$, the annuitant earns $$r\bar s_{\overline{t-k}|}$$ (retrospective), and the remaining $$r\bar a_{\overline{1-t}|}$$ is unearned (prospective). Of course, for the previous years: year 1,2,...,$$k$$, all continuously paid payments in each are earned. Therefore, to summarize, the annuitant can earn the payments at an annual rate $$r$$ continuously until death. Notice that this earning of payment is the same as the earning in whole life continuous annuity. Since the payment rate $$r=\frac{1}{\bar a_{\overline 1|}}=\frac{\delta}{1-v}=\frac{\delta}{d},$$ (recall that $$v=1-d$$ from a result in financial mathematics) the actuarial present value of this, denoted by $$\ddot a_x^{\{1\}}$$ is $$\ddot a_x^{\{1\}}=\frac{\delta}{d}\bar a_x.$$ For the unearned portion, the annuitant should refund to the payer at the moment of death, where the value of the refund payment at that moment (time $$t$$) is $$r\bar a_{\overline{1-t}|}=\frac{\delta}{d}\bar a_{\overline{1-t}|},$$ as suggested above.

We can extend this idea to whole life annuity-due with $$m$$-thly payment. $1/m |  die v   | -*--*- time k   t    k+1/m \   /\    /      \  /  \  /       \/    \/    earned  unearned portion portion In this case, we assume the payments within each $$1/m$$ of year are earned at a certain  rate $$r'$$ such that $$r'\bar a_{1/m}=1/m$$ (so that each stream of payments has the same present value as the single payment of $$1/m$$ made at the beginning). Now it follows that in terms of the value at time $$t$$, the annuitant earns $$r'\bar s_{\overline{t-k}|}$$ (retrospetive), and the remaining $$r'\bar a_{\overline{1/m-t}|}$$ is unearned (prospective). Since $$r'=\frac{1/m}{\bar a_{\overline{1/m}|}}=\frac{\delta/m}{1-v^{1/m}}=\frac{\delta}{m(1-v^{1/m})},$$ and $$\left(1-\frac{d^{(m)}}{m}\right)^{-m}=v^{-1}\implies 1-\frac{d^{(m)}}{m}=v^{1/m}\implies d^{(m)}=m(1-v^{1/m}),$$ we have $$r'=\frac{\delta}{d^{(m)}}.$$ Thus, the actuarial present value of the apportionable annuity-due (for whole life annuity-due with $$m$$-thly payments), denoted by $$\ddot a_x^{\{m\}}$$ is similarly $$\ddot a_x^{\{m\}}=\frac{\delta}{d^{(m)}}\bar a_x.$$

For the, the situation is somehow "reversed". Consider the following diagram. $1/m      $1/m (cannot get) |  die    | v   |     v -*--*- time k   t    k+1/m \   /\    /      \  /  \  /       \/    \/    earned  unearned portion portion We have similar treatments on the payments within each year. We assume the payments within each year are earned continuously at a certain rate $$r$$ such that $$r\bar s_{\overline {1/m}|}=1/m$$ (so that each stream of payments has the same value (i.e. value at the end of the $$m$$th of year) as the single payment made at the end of the $$m$$th of year). Then, in terms of the value at time $$t$$, the annuitant earns $$r\bar s_{\overline{t-k}|}$$ (retrospective), and the remaining $$r\bar a_{\overline{1/m-t}|}$$ is unearned (prospective). Since $$r=\frac{1/m}{\bar s_{\overline{1/m}|}}=\frac{\delta/m}{(1+i)^{1/m}-1}=\frac{\delta}{m((1+i)^{1/m}-1)}=\frac{\delta}{i^{(m)}},$$ the actuarial present value of the (for whole life annuity-immediate with $$m$$-thly payment), denoted by $$\overset{\circ}{a}_x^{(m)}$$ (remark: when $$m=1$$, the "$$(m)$$" is omitted in this case), is $$\overset{\circ}{a}_x^{(m)}=\frac{\delta}{i^{(m)}}\bar a_x.$$ Of course, in this case, the annuitant does not receive any payment for the year of death, and hence is not responsible for "refund". Instead, the payer should be responsible to pay additional payment (the amount of earned payments yet not paid) to the annuitant, at time $$t$$. We call such payment as adjustment payment.

Similarly, we have $$\ddot a_{x:\overline n|}^{\{m\}}$$ and $$\overset{\circ}{a}_{x:\overline n|}^{(m)}$$, which correspond to $$n$$-year temporary life annuities. Using analogous arguments, we can show that (There are no payments after a certain time point for each of the case. So, we divide our arguments by cases. For the case where there are payments, it is similar to the above argument. For the case where there are no payments, the actuarial present value is simply zero.)
 * $$\ddot a_{x:\overline n|}^{\{m\}}=\frac{\delta}{d^{(m)}}\bar a_{x:\overline n|}$$ and
 * $$\overset{\circ}{a}_{x:\overline n|}^{(m)}=\frac{\delta}{i^{(m)}}\bar a_{x:\overline n|}$$.

Recursion relations
Similar to the case for insurances, we can also develop recursion relations for. For life annuities, the is quite important for the development. This is because when we use current payment technique, we can "split" the potential future in some ways, similar to the case for insurances where the of the insurance is split. As a result, we can develop similar recursion relations for life annuities, e.g., (the intuitive explanations is in the brackets)
 * $$\bar a_x=\bar a_{x:\overline n|}+v^n{}_n p_x\bar a_{x+n}$$ (split the potential payments to two parts: payments in first $$n$$ years ($$\bar a_{x:\overline n|}$$) and payments afterward ($$\bar a_{x+n}$$). Then, actuarially discount (multiply $$v^n{}_n p_x$$) the payments afterward to age $$x$$.
 * $$\ddot a_x=\ddot a_{x:\overline n|}+v^n{}_n p_x\ddot a_{x+n}$$ (similar to the first one)
 * $$a^{(m)}_x=a^{(m)}_{x:\overline n|}+v^n{}_n p_x a^{(m)}_{x+n}$$ (similar to the first one)
 * $$\ddot a_x^{\{m\}}=\ddot a_{x:\overline n|}^{\{m\}}+v^n{}_n p_x\ddot a_{x+n}^{\{m\}}$$ (similar to the first one)
 * $$(I\ddot a)_{x:\overline n|}=\ddot a_{x:\overline n|}+vp_x(I\ddot a)_{x+1:\overline n|}$$ ("extract" an unit payment for each of the payments to form an life annuity-due ($$\ddot a_{x:\overline n|}$$), and then the remaining payments form "$$(I\ddot a)_{x+1:\overline n|}$$", and we need to actuarially discount (multiply $$vp_x$$) it back to age $$x$$).

Incorporating selecting ages to life annuities
Of course, we can incorporate selecting ages to life annuities. We just replace some terms related to the survival probability by their values for selection ages. Also, we can similarly put a square bracket in the notation when selecting ages are involved, e.g. $$\bar a_{[x]}$$. The idea involved is quite similar to the case for insurances: we often determine appropriate values for selection ages from life tables.

license: Creative Commons - Attribution Share-Alike - https://creativecommons.org/licenses/by-sa/4.0/


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. e5

=Stafford Gambit=

5.e5
White maintains their material advantage and kicks the Black knight from its square. This aggressive move now enables the knight to jump forward on the board.

The common replies for Black are /5...Ne4/ or /5...Ng4/, putting pressure on the weak f-pawn. The former move sets up White to make a mistake by pushing with /6. d3/ or /6. f3/. The latter move threatens the e5 pawn which White pushed.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. d3

=Stafford Gambit=

5.d3
White's most common move reinforces the center pawn and opens their dark square bishop. Generally, White will play passive and defensive moves while Black attempts to capitalize on their accelerated opening development.

Black will almost always play the Stafford Gambit's main line after the key move /5...Bc5/.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. d3/5...Bc5

=Stafford Gambit - Main Line=

5...Bc5
The stage is now set for the Stafford Gambit. Black exploits the opponent's weakest piece: the f-pawn, by pushing the dark square bishop. Due to the nature of White's pawn structure, it becomes difficult for the bishop to be removed. To put more pressure on the f2 square, Black also has future plans to move their knight forward with Ng4.

White's Responses

 * 6. Be2 prepares for Black's knight moving forward while simultaneously developing their pieces.

 * 6. h3 prevents the knight from moving to g4 altogether.

 * 6. Be3 blocks the dark square bishop from attacking the f-pawn. Black will likely accept the trade of the bishops and play aggressively with their knight and queen.

 * /6. Nc3/? allows Black to win back their pawn.

 * /6. Bg5/?? leads to an extremely infamous trap in the Stafford Gambit. While the Black knight appears to be pinned, Black has a deadly combination to gain material or even win the game.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. d3/5...Bc5/6. Bg5

=Stafford Gambit - Main Line=

6.Bg5??
Right off the bat, White falls into Black's hand by trying to pin the f6 knight with the dark square bishop. Although at first this seems like an okay move, White's king is unprotected and the opponent can go on the offensive. With the amazing move /6...Nxe4/!, the Black queen is sacrificed and White's best follow-up is ignoring the queen and instead trying to defend their side of the board.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. d3/5...Bc5/6. Bg5/6...Nxe4

=Stafford Gambit - Main Line=

6...Nxe4!
Black springs into action and captures the pawn on e4, gaining an enormous advantage. The weak pawn on f2 is threatened and White must defend an inevitable attack on their king.

 * 7. Be3 is White's best response by defending the f2 square. However, Black can trade bishops and move their queen to 8...Qh4. 9.g3 is the only way to prevent checkmate and Black can take the rook with 9...Nxg3, sacrificing the knight.

 * 7. dxe4? capturing the knight. After 7...Bxf2, White's queen will be taken.

 * /7. Bxd8/?? capturing the queen. Amazingly, Black now has a forced checkmate in 2 moves with 7...Bxf2+ 8.Ke2 Bg4#.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. d3/5...Bc5/6. Bg5/6...Nxe4/7. Bxd8

=Stafford Gambit - Main Line=

7.Bxd8??
The Stafford Gambit player's dream. White mistakenly accepts their queen sacrifice and now will be checkmated in 2 moves.

Black checks with Bxf2 and after the White king moves up, Bg4 is Black's win.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. e5/5...Ne4

=Stafford Gambit=

5...Ne4
Rather than moving their knight back, Black plants his knight in the middle of the board. It aims at the weak f-pawn and White is tempted to remove the knight from the square. The inconspicuous move actually sets up a trap if White pushes their /6. d3/ or /6. f3/ pawn. Instead, a good response for White is 6. d4, creating a strong center in the middle of the board.


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History of video games/Platforms/Logitech G CLOUD gaming handheld

Development
The hardware of the system was developed by Logitech in partnership with the company Tencent, which handled software.

The system was announced on September 21st, 2022, with a projected launch date of October 17, 2022. The initial price of the system was $300 for preorder, or $349 at launch. The launch of the device was geographically limited to North America, more specifically launching in just the United States and Canada.

Compute
The system was based on the Snapdragon 720G system on a chip, which was considered a mid-range mobile processor at announcement. The system included 4 gigabytes of LPDDR4X RAM.

Hardware
A dual band Wi-Fi 5 radio is incorporated in the system, sporting a 2x2 MIMO configuration.

The system weighed 463 g.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. e5/5...Ne4/6. f3

=Stafford Gambit=

6.f3??
6. f3 is a tempting move to kick out the knight from the center, but allows a devastating check from Black. After 6...Qh4+, 7.Ke2 immediately loses with a forced checkmate (see below). The other option is 7.g3 Nxg3, losing a rook for a knight and destroying the kingside.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. e5/5...Ne4/6. d3

=Stafford Gambit=

6.d3??
Although better than 6.f3??, the move gives Black a winning tactic. Instead of moving the knight away, Black has the move 6...Bc5!, sacrificing the knight.

Targeting the weak f-pawn, White's best move is blocking with 7. Be3. After the bishops trade 8...Qh4+ wins the rook for a knight, a common theme in the Stafford Gambit.

More commonly, White captures the knight with 7. dxe4. This allows 7...Bxf2+, sacrificing the bishop. If the White king captures the bishop, Black will capture the undefended queen. Otherwise, the White king will move up and 8...Bg4+ wins the queen.


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Chess Opening Theory/1. e4/1...e5/2. Nf3/2...Nf6/3. Nxe5/3...Nc6/4. Nxc6/4...dxc6/5. d3/5...Bc5/6. Nc3

=Stafford Gambit - Main Line=

6.Nc3?
The White knight develops into the center and protects the e-pawn. This is not the best move because Black can win back their pawn with the aggressive move 6...Ng4. The only move which protects the f-pawn is Be3, though Black can take with their knight and then bishop, now even in material.

Black holds a comfortable advantage because the bishop and threat of the queen swinging over prevents White from castling.


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Women's Writing Before Woolf: A Social Reference/Leigh Hunt (2)

= Leigh Hunt (1784-1859) = James Henry Leigh Hunt (1784–1859) was a significant figure in the 19th-century English Literary scene, with his works becoming influential to the development of the Romantic Era and the foundations of literary criticism. Hunt's literary endeavours spanned numerous genres and styles over his sixty-year career, most notable is his work as an “essayist, critic, journalist and poet.” He also founded numerous influential journals, acting as the editor for many, including the notable Examiner from 1808 to 1822. Hunt produced an exhaustive amount of writing during his lifetime, displaying his relentless passion for criticism, poetry, and politics. Despite literary scholars foregrounding his close friendship with literary figures John Keats, Percy Bysshe Shelley and later Lord Byron, Hunt's innovative writings significantly influenced the English notion of Romanism Literature during his lifetime.

Biography:
Leigh hunt (James Henry Leigh Hunt) was born on October 19th, 1784, in Southgate England and died on August 28th, 1859, in London. His father, Isaac Hunt was a lawyer from Barbados and his mother, Mary Shewell Hunt, was the daughter of a wealthy merchant of Philadelphia, both of whom fled America during the Revolutionary war. Hunt received an education at the “Christ’s Hospital School”, where he wrote his first work, a poetry collection titled Juvenilia (1801), which he published via subscription through the United States and England with the help of his father.

In 1805 Leigh’s brother, John Hunt began a newspaper called The News, where he employed Leigh to write as a drama critic, expanding his literary abilities into journal articles, essays, and performance critics. It was during this time Hunt established himself as a reputable writer free of bias. However, by 1808 he had moved from a journalist at The News to the editor of The Examiner. This newspaper was significantly different from others at the time as it “advocated the abolition of the slave trade, Catholic emancipation, and the reform of parliament and the criminal law.” On the 3rd of July 1809, Hunt married Marianne Kent, with whom he had ten children.

Perhaps the most significant period in Hunt's life was his time in prison. Both John and Leigh Hunt served two years of jail time from 1813 to 1815, due to libel charges. After his release, he went on to make friends with John Keats, Percy Bysshe Shelley, Mary Shelley, and Lord Byron, whilst contributing greatly to his numerous journals.

Works:
Hunt has an expansive range of writings, from poetry to plays, critical essays, fiction, autobiographical writing, literary criticism, and journal publishing. The first work Hunt published was a collection of poems, the volume title Juvenilia (1801), with its astonishing success producing four successive editions in the following years. During his time at his brother’s newspaper, The News, he produced essays that he would later compile and publish as Critical Essays on the Performers of London Theatres (1807). His poetry collections include the volumes Foliage (1819), Imaginations and Fancy (1844), and Wit and Humour (1846). His famed satirical poem “The Feast of the Poets” (1812) critiques poetry and literature during his lifetime, featuring writers Thomas Campbell, Sir Walter Scott, Thomas Moore, and Robert Southey. Hunt later revised the poem in 1814 to include William Wordsmith, George Gordon, and Samuel Taylor Coleridge, along with the addition of “numerous notes that attest to his increasing confidence as a literary critic."

Hunt’s most famous poems include the Dante-inspired narrative poem “The story of Rimini” (1816), “The Nymphs”, “Bacchus and Ariadne” (1819), “The Dogs”, “The Glove and the Lions” (1836) among many others. Hunt worked as a journalist for The News, then formed The Examiner (1808) with his brother, later becoming the editor. He also was the editor of his journals The Reflector (1811), The Literary Pocket Book (1818), The Indicator (1819), The Chat of the Week (1830), Leigh Hunt’s London Journal (1834-1835) and The Monthly Repository (1837-1838). Hunt also produced four issues from The Liberal, a journal he intended to collaborate with Percy Shelly and Lord Byron on, but due to Shelley’s death in 1822, the pair attempted to pursue the idea in vain. Other significant works include Lord Byron and Some of His Contemporaries (1829), Autobiography (1850), The Religion of the Heart (1853), A Legend of Florence (1840) and Lovers’ Amazement (1858).

Contributions to Literature:
Hunt’s poetry greatly contributed to the formation of the Romantic Era as his works explored themes of nature, beauty, spontaneity, imagination, and the “quarrel between heart and art.” His work demonstrates "an improbable alliance between playful and serious impulses”, featuring elegiac turns as he grapples with the fervour of life, loss, and love. His work also often included mythologies, most often Greek and Roman ones, evident in his poem “Hero and Leander”, “Bacchus and Ariadne”, “The Feast of the Poets” and “The Nymphs”. Hunt’s influence on Romanticism is most evident in his bountiful poetic style, as he “engages [d] with a new poetic of spontaneity.” Hunt's refreshing and spirited poetical voice emerged through his innovative lyrism, syntax and metre, as his “couplets escape the handcuff of end-stopped rhyme by gliding into enjambed pauses.” His work, along with his close literary companions, began to influence the Romantic Period by using poetry to bring “experience alive”.

Hunt also translated his own works, specifically his famed poem, "The Feast of the Poets” (1815). These translations provided additional information regarding his sourced material, often obtained from Greek and Roman mythology, allowing Hunt to expand upon his reference and diverge creatively from the existing historical narratives. Described as "celebrat[ing] congeniality, friendship, love, transformation, desire, sexuality and the consequences of repression.” Hunt's translations reflect his literary greatness in Latin and English poetics. Undeniably, Hunt contributed significantly to the canon of English Romantic Literature, providing poetical works that expanded upon and defined the then-current notion of Romanticism, portraying the world and poetry as “cheerful but thoughtful, outwards-turned and sociable.”

Reputation:
Like many influential literary figures, Hunt has been historically overlooked, primarily in literary studies, as it appears theorists are more interested in his social connections than his own life and writing. The study of “Modern Romantics” has continually shunned Hunt's monumental influence on the Romantic Era in favour of his associations with Percy Shelley and John Keats. Recent changes in literary theory have spurred more interest in the life of Leigh Hunt, notably the works of Nicholas Roe and Anthony Holden, however, Hunt’s literature is still critically undervalued.

Further Reading:

 * Holden, Anthony. The Wit in The Dungeon: The Life of Leigh Hunt. Hachette UK, 2016.
 * Ockerbloom, John Mark. “Online Books by Leigh Hunt.” The Online Books, 23 September 2022, https://onlinebooks.library.upenn.edu/


text: Category:Book:Magar

title: Category:Book:Magar


text:
Basics of fine-art photography

The textbook addressed to those who are taking their first steps in photography. The author is more of a practitioner than a theoretician; in addition — the traveler and a supporter of hobo tourism, where, by the way, expensive and bulky photographic equipment is highly undesirable. But this postulate applies not only to long-term expeditions, which including several overseas countries; expensive equipment is the enemy of a novice photographer: after all, you set yourself the goal of creating conceptual artwork, and not showing off professional equipment to friends, right?

The difference between this textbook and many similar ones is that it does not burden the reader with a lot of information and complex terms: the main idea of each article is concentrated in two or three paragraphs, and the intended result can be seen in the author’s works attached to the articles. Experience will come with time, you just need to improve it with constant practice. If your goal is to earn money by mastering the art of photography, just close the page: we are not on the way.

Creator of textbook — Russian photographer/photoartist Viktor Pinchuk, the author of 11 personal exhibitions and art-album "NUances of fantasy". All illustrations are made by the author of textbook.

Content

 * Abstract photography
 * Archaeological photography
 * Candid photography
 * Conceptual photography
 * Documentary photography
 * Exotic (extraordinary) dishes, photography of
 * Experimental photography
 * Genre photography
 * High-key lighting
 * Homeless people photography
 * Humanistic photography
 * Interior photography in hobo tours
 * Macro photography
 * Minimalist photography
 * Narrative photography
 * Necrophoto (photo associated with death)
 * Neosurrealism photography
 * Low-key photography
 * Night photography
 * Nude photography (art)
 * Landscape photography
 * Panoramic photography
 * Pictorialism
 * Portrait photography
 * Realism in photography
 * Reportage photography
 * Retro photo
 * Ruins photography
 * Self-portrait
 * Staged photography
 * Straight (pure) photography
 * Travel photography
 * Street photography
 * Photoart
 * Ethnographic photo genre

Important information

 * /Photo artist/ — who is this and how differs from a photographer.

Personal exhibitions by the textbook author

 * /Egypt and Egyptians/ — Artist's House, Simferopol — 2005, June
 * /Egypt and Egyptians II/ — Simferopol Art Museum — 2006, February
 * /Lights of Moscow/ — Russian Cultural Center, Simferopol — 2006, June
 * /Ethiopia through the eyes of traveler/ — Artist's House, Simferopol — 2006, October
 * /On the roads of India/ — Artist's House, Simferopol — 2007, April
 * /14 days in Mongolia/ — Russian Cultural Center, Simferopol — 2007, October
 * /Uganda: tribes and civilization/ — Artist's House, Simferopol — 2008, June
 * /Tribes of Kenya/ — Central Museum of Taurida, Simferopol — 2012, March
 * /Egypt and Egyptians III/ — Russian Cultural Center, Simferopol — 2012, September
 * /January in Japan/ — Central Museum of Taurida, Simferopol — 2013, October
 * /Hitchhiking across Sudan/ — Museum of Simferopol History — 2014, July
 * /Afghanistan, 2008/ — Crimean Ethnographic Museum — 2023, February

title: Basics of fine-art photography


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Basics of fine-art photography/Creating works in a high key

High Key is a method of lighting used in photography to create a special artistic effect, characterized by minimal contrast and the absence of dark tones.

General information
To create photographs in a high key, very bright lighting should be used, affecting the shadows present to such an extent that they will almost not be noticeable. In the strictly classical sense of the method, the result should not contain dark grey and black details, but a modern interpretation suggests minor inclusions, such as black eyebrows in a portrait.

Useful advice
If you are planning to shoot outdoors, it is advisable to do so on a clear day with side lighting and, of course, a light (or white) background. If practising indoors, you will need to do some preparatory work.

Ways of implementation
To create a perfect photograph in a high key will require a considerable investment of money to purchase the appropriate equipment and accessories. However, possibile get your first skills with an ordinary room. You can start by taking portraits. Use a perfectly white material as a background: a wide roll of paper or at least a piece of white cloth without any patterns, texture or small spots. You'll need four light sources, two of which — the main (brighter) and the fill light (extra) should be directed at the person being photographed, placing them on the left and on the right; the rest (less powerful) should be used to light the background. The result will be a life-affirming image with a positive tone.

Possible mistakes
The photo may turn out to be contrasting.


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Basics of fine-art photography/Creating works in a documentary photography

Documentary photography is a direction of photographic art based on the reproduction of real events.

General information
The genre includes the depiction of moments of everyday life, historical events, natural disasters, etc. It partly overlaps with reportage photography, but there are some differences, one of them — the more complex storyline. It also has some points of contact with ethnographic, street and genre photography; used in photojournalism, amateur and art photography.

Documentary photography is not limited to creating works with people in the frame, and may combine natural objects, fauna and inanimate objects, but in any case, the works of supporters of this branch of photographic art are emotional and related to human emotions.

Ways of implementation
It is impossible to give practical advice on how to achieve certain successes in documentary filming. In this case, the author's skill and practical skills do not take precedence over chance, and the time and place of events are sometimes difficult to predict. Always have a handy camera at hand, and luck will smile on you sooner or later. Better still, travel around the planet practicing hobo tourism, where adventures are always plentiful.


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Basics of fine-art photography/Creating works in a genre photography

Genre photography is the skill of depicting seemingly simple everyday scenes from an artistic perspective.

General information
Genre photography and street photography can be considered related concepts, but the former came into being a little earlier. While there are many similarities between these genres, there are also differences: the former focuses on the subject and the latter — on the visual side of the photograph.

Tips
In choosing this genre, you should be mobile, agile, observant and has compositional vision.

Each of your works should encourage the viewer to reflect on what came after, and perhaps before, what he see in the photo. If there is no storyline, the photo belongs to a different genre.

More information
Ihere are also some similarities between genre photography and reportage photography, with the former necessarily being artistic while the latter may not be so: to illustrate newspaper articles, for example, the images may have minor flaws. This should be borne in mind when you choosing genre.


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Basics of fine-art photography/Interior photography in hobo tours

Interior photography in hobo tours is an informal genre that combines elements of interior photography and ruins photography.

General information
This is a direction of photographic art known to only a few: those who are involved in photography and bum tourism at the same time.

A characteristic feature is the shocking for viewer, unusual, destroying stereotypes about staying on foreign trips, the display of accommodation facilities. The presence in the frame of the "bed" of an international tramp is an additional detail, without which a photograph of this type would look less documentary.

Ways of implementation
The space where you are going to take your pictures is not always sufficiently lit by natural light, so you'll need a flash. You should preferably use a wide-angle lens (which always important for interior photography) in order to capture as much space as possible, but if you don't have one, you can applied a normal lens.

In any case, the compositional solution is of paramount importance, the correctness of which, combined with the storyline, will be decide by the viewer's imagination, turning your photo work into a separate story.


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MATLAB Programming/Handle/Figure Handle

Figure handles
A figure is essentially a window that acts as a container for one or more plots, uicontrols, and so on. It is the second highest level object you can create

To create a figure, use the figure function like so: >> fhandle = figure; This creates a new figure window and stores all the figure data in the variable fhandle. You can also tell MATLAB to give the figure any number of properties at the same time as it's created using the syntax: >> fhandle = figure('Propertyname1', value1, 'Propertyname2', value2, ...); See the documentation "figure properties" page for a list of valid property names for figures.

You can close a figure and destroy its handle programmatically by using the close function: >> close(fhandle);

The get and set functions
MATLAB allows you to get any property of a figure handle (or actually any type of graphics handle, including axes, line objects, text objects, and so on) by using the 'get' function in the following manner: >> h = figure; >> propvar = get(h, 'Propertyname'); will store the property with name 'Propertyname' in the variable propvar. With the 'get' function you can only get one property at a time.

The set function allows you to set any number of properties of figures and other graphics handles. You can change as many properties as you want by calling the set function like this: >> set(h, 'Propname1', propval1, 'Propname2', propval2, ...); You can also modify the same properties to the same values for any number of handles, if you simply create an array of handles first: >> handlevec(1) = figure; >> handlevec(2) = figure; >> set(handlevec, 'Name', 'Figure window') will create two new figures and give them both the same title: 'Figure window'.

See the documentation for valid property names and values for figure properties.

gcf
Even if you don't assign a figure to a variable, you can still access it by using the internal MATLAB variable gcf. This is mostly for convenience, so you don't have to pass the figure handle from one function to another to make modifications. However, due to the warning below, you must be VERY careful in use of gcf so that you make sure you are modifying the correct figure in the case of multiple figure programs:To get a list of the current properties of the current figure, use the syntax: >> get(gcf) You can also get or set a specific property by using: >> get(gcf, 'propertyname'); >> set(gcf, 'propertyname', value); See the documentation "figure property" page for valid figure property names and the format for their values.

Saving the contents of a figure
To save the entire contents of a figure, use the saveas function: >> saveas(fhandle, 'X.fig'); will save the contents of the figure with handle fhandle as X.fig. .fig files can be opened and edited manually later if desired, although it is often difficult to open them and re-edit them programmatically in a consistent manner.

You can also use the saveas function to save image formats such as .jpg, .tif, .bmp, .png, and so on. The saveas function is essentially a command line version of the "file --> save as..." option in the figure window itself, but there are some possible resolution differences. Using either of these two methods of saving a figure to a file, the quality of the resulting image is often insufficient for purposes such as inclusion in publications.

In the event that a high quality version of the figure is necessary, it is possible to use MATLAB's print function to print the figure to a vector format (such as Adobe Illustrator's format, obtained with the -dill flag) or to a raster format with a specified resolution (for example, using the two flags -dpng and -r300 would tell MATLAB to print the figure to a PNG file at 300dpi). See the documentation for that function here for more details on the supported output formats.

As an alternative to MATLAB's print function, SVG files can be obtained from many figures (not just simulink models) using the plot2svg function from MATLAB's contributor central (available here). SVG files can be edited using freeware tools such as Inkscape, and also can be opened in Illustrator.

title: MATLAB Programming/Handle/Figure Handle


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Basics of fine-art photography/Creating works in macro photography

Macro photography is the creation of optical images, where, according to the Great Russian Encyclopedia, the scale is from 1:5 to 10:1 or higher.

General information
The method is used to display small objects in full size or with magnification; (the smallest objects are displayed using photomicrograph).

For professional purposes, special accessories are used: supplementary lenses, extension rings, short-throw lens, etc.

Ways of implementation
With the simplest digital camera, you can get a decent result. Many "point-and-shoot" models  have a “macro” mode, using which, you should bring the camera closer to the object being shot, while not forgetting to increase the shutter speed, because the image illumination decreases as the distance decreases. If your model has a depth-of-field option, use the maximum setting to ensure that the finest details are captured.

In any case, in the era of digital technology, trial and error will help.

The use of bulky detachable lenses and tripods, contradicts the principles of the author, who is a supporter of hobo tourism, so if you are interested in an in-depth understanding of macro photography theory, look at the works of creator this article, which were made with a primitive camera and... try to find another textbook — more thorough and detailed one.


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Basics of fine-art photography/Creating works in a minimalist photography

Minimalism is a style of photographic art, where the author's work is distinguished by the utmost simplicity of execution.

About style and implementation methods
Minimalism emerged as an artistic trend in the 60s of the last century, later, in addition to painting, it began to be used in photography. The style involves a minimum of depicted objects, shades, shapes and textures, as a result of which the viewer's attention is concentrated on the central object, without being distracted by details.

To create a minimalist photo work, you should choose a time of day or a season when there will be as few people around as possible and objects that fall into the frame. For example, at the early morning in the city, or in the snowy winter at forest. In any case, you will need imagination and the ability to improvise. In addition, you should pay attention to the artistry and content of photography. You can photograph a small fly on a large plain wall, or an apple on the pavement - this will also be minimalism, but ... a photographic work should carry in itself something special, arouse the viewer's desire looking at it for a long time, thoughtfully. Will someone should want look at the fly?

Important to know
Use the rule of thirds when choosing a compositional solution.

More
A picture is worth a thousand words. Take a look at the photographs of the author of this article as an example, they will silently tell you more about minimalism than long educational texts.


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Basics of fine-art photography/Creating works in neosurrealism photography

Neosurrealism is a genre in the visual arts that differs from its predecessor in the absence (obligatory for Surrealism) of the main idea — automatism.

About genre and ways of implementation
To create works in this genre, it is not necessary fall into a trance, communicate with the spirits of the dead, aliens from another worlds, or use drugs. It is enough to have imagination and a computer with a minimum set of graphic editors; like Photoshop or Sketch.

You won’t even need to take special neo-surrealism training courses (there are none, besides, in the absence of innate imagination, they are unlikely to help); more effective — will to experiment with original photographs and a margin of time.


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Cookbook:Wheat Germ

Wheat germ is the innermost part of the wheat kernel.

Processing
Wheat kernels are cleaned and then crushed to separate the bran, germ, and endosperm. The germ is then separated out, dried, and packaged.

Storage and use
Due to its high oil content, wheat germ can turn rancid. It is best stored in an airtight container in the fridge or freezer.

Wheat germ is commonly used in baked goods, where it can contribute to flavor, texture, binding and structure, and nutritional value.

title: Cookbook:Wheat Germ


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User:Wikieducators

Selma nghiyalasha

title: User:Wikieducators


text:
User talk:Harmony msutu

Welcome, Harmony msutu!

If you have any questions, you can ask in the assistance reading room or possibly contact me personally. —Justin ( koavf ) ❤T☮C☺M☯ 08:45, 27 September 2022 (UTC)

title: User talk:Harmony msutu


text:
User talk:103.66.82.85

10:12, 27 September 2022 (UTC)

title: User talk:103.66.82.85


text:
User talk:Cheesycow5

Welcome
Welcome to Wikibooks, Cheesycow5!

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(Would you like to provide feedback on this message?) 10:14, 27 September 2022 (UTC)

title: User talk:Cheesycow5


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Women's Writing Before Woolf: A Social Reference/Lettice Fitzgerald, Baroness Offaly (c.1580–1658)

Biography
Born in 1580 as the only child to Gerald Fitzgerald (Lord Offaly, Lord Garratt) and Catherine Knollys, Lettice Fitzgerald was a prominent Irish woman, part of the Fitzgerald aristocratic dynasty. While she was still a child her father and unmarried uncle had passed, leaving her to become the heiress-general to the Earls of Kildare (possessing of three manors). She was from this, to become the first Baroness Offaly, heir to her grandfather the 11th Earl. In this period of waiting Lettice was to later marry Robert Digby (MP) on the 19th of April 1598 and would mother ten children throughout their relationship. Sir Robert Digby of Coleshill (an Englishman) possessed a wide variety of patrons across both London and Dublin, and sought to expand his influence through their marriage.

In the year of 1602 the 14th Earl of Kildare produced a deed of 1566 – supposedly written by the 11th Earl that disinherited Lettice. She promptly sued, stating that the deed was fraudulent and altered, and in 1609 after costly years at court, it was decided that the validity of the deed would be tried by jury at common law. Lettice refused all arbitration, despite the death of both the 14th Earl and her husband in 1618, continuing her legal crusades against her relatives. Upon the 11th July 1619, King James I rejected the claim that Lettice was the heiress to the 11th Earl; however, he did grant her the castle of Geashill. This comprised of approximately 300,000 acres of Offaly. She was also granted the manors of Portlester, Woodstock and Athy. She was announced in 1620 the ‘Baroness Offaly for life’ though proceeding her death the title would return to the earls of Kildare – not her children. Lettice then preoccupied herself through the promotion of Anglicanism and Protestantism throughout Ireland.

In 1641 Catholic rebellion took place throughout Ireland, and the residence of Lettice, Castle Gaeshill, was besieged a total of three times. She is known to have been resolute in its defence through her correspondence and reportedly beheaded a Catholic priest when threats were made upon her eldest son's life. She departed upon the third siege and lived the remainder of her life in Coleshill England, until she died on the 1st of December 1658.

Works
During the siege of the Geashill Castle (1642), Fitzgerald had a combative correspondence with her second cousins, both Henry and Lewis O’Dempsey. In her steadfast defence of the castle, and refusal to demands she wrote numerous letters to the Irish rebels, in one instance stating she “doubt not” that she would “receaue a Crowne of Martydome” (Trinity College, MS 814, fol. 107r). Thematically these letters stressed the femininity of Fitzgerald, her widowhood, and the familial bonds she possessed with the rebels, likely to create a sense of vulnerability. It is suggested that she intentionally constructed these correspondence to shame her kinsman into surrender, demonstrating her literary prowess through the manipulation of her circumstances (Clavin, 2009). Famously upon the dubious offer of mercy from the O’Dempsey’s, Fitzgerald stated:

“I will live and die innocently, and will do my best to defend my own, leaving the issue to God.” (British Isle Genealogy, 2004).

It remains unclear if Fitzgerald intended for her letters to be published, as they became especially prominent across London during the spring of 1642, after the first siege. Unsurprisingly after being promoted across England as propaganda (Maxwell, 2019), and previously introducing English tenants upon her lands, the London aristocracy offered their aid. The ardour and pride of her literary works was said to have inspired them. When the regiments of Sir George Wentworth, Sir Charles Coote, and Lord Digby (her son) arrived, Fitzgerald had already dispatched the rebels (British Isle Geneaology, 2004).

Evidence also exists to report on the reception of Lettice’s letters. It is highly likely that it was the topical nature of Fitzgerald’s letters regarding the religious local rebellions that prompted the transmission of its reception. Of particular note to this is the nature of religious communities being rich in transnational reception networks for both male and female authors (Coolahan, 2012). For accounts of her reception see Temple (1646).

Lettice Fitzgerald is not solely regarded for her letters however, as she also authored the poem ‘Verses maide by Lettice Fitz Gerald ye Lady Ophaley, after she lost her eye-sight being above fourscore years of age’. Similar to the shrouded and forgotten nature of her letters, the poem is unknown in date or context (McShane, 2016), surviving only as a miscellaneous addendum within the 1922 volume of the Journal of the County Kildare Archaeological Society. The poem highlights the religious fervour of the Baroness Offaly;

“Death keeps the key of this dark prison where

She lies inthroald with sin and bound with care

O send Thy summons Lord and sett her free”.

(9-11)

Reputation/Legacy
The works of Fitzgerald leave a grim reminder of Irish women’s literary perspectives, particularly during the hostilities between the 1640’s-1650’s. While one may find a plethora of poetic and biographical texts from the male Irish aristocracy regarding the promotion of anglicization and Protestantism within Ireland, such cannot be said for the women (McShane, 2016). The previously mentioned poetry of Fitzgerald is a testament to the contributions of early modern Irish women; however, it also highlights the struggles in retrieving such works.

This is due to the poetic, oral traditions of Irish women, stemming across all socio-economic backgrounds (Hamrick, 2016). Instead of manuscript and publication, instead these individuals were to circulate works through oral citations in traditional Irish dialects. Also in opposition to the retainment and circulation of these perspectives was the destruction of the Dublin Public Record Office in 1922, which resulted in the loss of immeasurable historical and poetic records.

The works of Fitzgerald not only share a perspective of a rare, female, aristocratic leader during these religious hostilities, but also represent the tumultuous trends of female authorship.

Further/ Suggested Readings
Coolahan (2010) makes intriguing comparisons between the works of Lettice Digby (Fitzgerald) and Lady Elizabeth Dowdall. Particularly within her chapter ‘Depositions’ she outlines the “assured self-constructions of female resistance” (p.166).

The collective works titled under ‘Women's Life Writing and Early Modern Ireland’ further adds to the topic of literary retainment, particularly works that have not been traditionally thought worthy of scholarly consideration. It discusses similarly to that of Hamrick (2016) how the circulation of texts authored by early modern Irish women were not only disregarded in the time of their publication, but also by current historians, and scholarly trends. It also details the improved understandings of these historical women’s intellectual habits, due to the study of more ‘self-expressive’ or personal texts such as the letters of Lettice Fitzgerald.

Also consider the following works;

Maxwell, J. (2019). MONSTRUM HORRENDUM. History Ireland, 27(5), 20–23.

McAreavey, N. (2007). '"Paper bullets": Gendering the 1641 Rebellion in the Writings of Lady Elizabeth Dowdall and Lettice Fitzgerald, Baroness Offaly', in T. Herron and M. Potterton (eds.), Ireland in the Renaissance c.1540-1660, pp. 311-24.