Copy of CA2 SampleProjectL3 spreadsheet by 3r6Fp93T

VIEWS: 2 PAGES: 13

									DOCUMENTATION SHEET




          Version        1
          Date Created     16 Apr 2007
          Written By     CA2 Tutor

          Purpose        Answer to CA2 Project L3:-
                         Calculation of pure net premiums for a 10 year term assurance, whole life contract and a possible
                         option benefit to take out further whole life cover without evidence of health

          Results/       See the audit trail in the embedded Word file below:-
          Method


                             Document




          Data           The only data is values of lx for AM92 ultimate. This is stored on the DATA tab
                         The various parameters are recorded in named ranges on the PARAMS tab




History

          Version 1
MORTALITY TABLE DATA

          This sheet has values of lx for AM92 ultimate in column B as data.
          These were provided in a separate file.
          Values of lx for other tables may be pasted in to column B as necessary.
          If values of qx are given these should be placed in a different column and values of lx
          calculated in column B.


           AM92 ult
    Age       lx
  50       9712.0728
  51       9687.7149
  52       9660.5021
  53       9630.0522
  54       9595.9715
  55       9557.8179
  56       9515.1040
  57       9467.2906
  58       9413.8004
  59       9354.0040
  60       9287.2164
  61       9212.7143
  62       9129.7170
  63       9037.3973
  64       8934.8771
  65       8821.2612
  66       8695.6199
  67       8557.0118
  68       8404.4916
  69       8237.1329
  70       8054.0544
  71       7854.4508
  72       7637.6208
  73       7403.0084
  74       7150.2401
  75       6879.1673
  76       6589.9258
  77       6282.9803
  78       5959.1680
  79       5619.7577
  80       5266.4604
  81       4901.4789
  82       4527.4960
  83       4147.6708
  84       3765.5998
  85       3385.2479
  86       3010.8395
  87       2646.7416
  88       2297.2976
  89       1966.6499
  90       1658.5545
 91   1376.1906
 92   1121.9889
 93    897.5025
 94    703.3242
 95    539.0643
 96    403.4023
 97    294.2061
 98    208.7060
 99    143.7120
100     95.8476
101     61.7733
102     38.3796
103     22.9284
104     13.1359
105      7.1968
106      3.7596
107      1.8669
108      0.8784
109      0.3903
110      0.1632
111      0.0640
112      0.0234
113      0.0080
114      0.0025
115      0.0007
116      0.0002
117      0.0000
PARAMETER SHEET

         This sheet records the basic parameters for the workbook.

         Each parameter is a named range.




         Interest rate           4.25%

         Loading                  1.00

         Mortality Rating         2.00

         Option Take-up            30%

         Sum Assureds:
         Basic                   10,000
         Additional              10,000
BASE MORTALITY CALCULATIONS

          This sheet calculates the net premiums assuming a mortality loading equal to the named range Loading on the
          PARAMS tab.
          The interest rate assumption is set on the PARAMS tab.

          Whole of Life Contract                                                                   10 Year Term Assurance Contract

            Base         Base       Loaded                                Net Premium                Loaded       Loaded                           Net Premium
    Age      lx           qx          q^x         aduex          Ax            Px                       lx         10px    adue(x:10)   A(x:10)      P(x:10)
     50    9712.073     0.002508     0.002508      16.9435       0.3093      0.018252                 9712.073      0.9563     8.2316    0.03373      0.004098
     51    9687.715     0.002809     0.002809      16.6629       0.3207      0.019246                 9687.715      0.9510     8.2170    0.03781      0.004602
     52    9660.502     0.003152     0.003152      16.3745       0.3325      0.020303                 9660.502      0.9451     8.2006    0.04238      0.005168
     53    9630.052     0.003539     0.003539      16.0786       0.3445      0.021427                 9630.052      0.9385     8.1823    0.04748      0.005803
     54    9595.972     0.003976     0.003976      15.7753       0.3569      0.022623                 9595.972      0.9311     8.1616    0.05317      0.006515
     55    9557.818     0.004469     0.004469      15.4648       0.3695      0.023896                 9557.818      0.9229     8.1386    0.05950      0.007311
     56    9515.104     0.005025     0.005025      15.1472       0.3825      0.025251                 9515.104      0.9139     8.1128    0.06653      0.008200
     57    9467.291     0.005650     0.005650      14.8229       0.3957      0.026696                 9467.291      0.9039     8.0841    0.07431      0.009192
     58    9413.800     0.006352     0.006352      14.4923       0.4092      0.028235                 9413.800      0.8928     8.0521    0.08291      0.010297
     59    9354.004     0.007140     0.007140      14.1556       0.4229      0.029876                 9354.004      0.8806     8.0166    0.09240      0.011526
     60    9287.216     0.008022     0.008022      13.8134       0.4369      0.031626                 9287.216      0.8672     7.9772    0.10283      0.012890
     61    9212.714     0.009009     0.009009      13.4660       0.4510      0.033494                 9212.714      0.8526     7.9336    0.11427      0.014403
     62    9129.717     0.010112     0.010112      13.1139       0.4654      0.035487                 9129.717      0.8366     7.8856    0.12678      0.016077
     63    9037.397     0.011344     0.011344      12.7578       0.4799      0.037616                 9037.397      0.8192     7.8326    0.14042      0.017928
     64    8934.877     0.012716     0.012716      12.3981       0.4946      0.039890                 8934.877      0.8003     7.7744    0.15526      0.019970
     65    8821.261     0.014243     0.014243      12.0356       0.5093      0.042320                 8821.261      0.7798     7.7106    0.17133      0.022220
     66    8695.620     0.015940     0.015940      11.6708       0.5242      0.044916                 8695.620      0.7578     7.6408    0.18868      0.024693
     67    8557.012     0.017824     0.017824      11.3045       0.5391      0.047693                 8557.012      0.7342     7.5647    0.20734      0.027409
     68    8404.492     0.019913     0.019913      10.9374       0.5541      0.050662                 8404.492      0.7090     7.4819    0.22734      0.030385
     69    8237.133     0.022226     0.022226      10.5702       0.5691      0.053838                 8237.133      0.6822     7.3921    0.24868      0.033641
     70    8054.054     0.024783     0.024783      10.2038       0.5840      0.057236                 8054.054      0.6539     7.2950    0.27134      0.037195
     71    7854.451     0.027606     0.027606       9.8388       0.5989      0.060871                 7854.451      0.6240     7.1903    0.29529      0.041068
     72    7637.621     0.030718     0.030718       9.4760       0.6137      0.064762                 7637.621      0.5928     7.0779    0.32049      0.045280
     73    7403.008     0.034144     0.034144       9.1163       0.6284      0.068927                 7403.008      0.5603     6.9575    0.34684      0.049852
     74    7150.240     0.037911     0.037911       8.7603       0.6429      0.073384                 7150.240      0.5266     6.8291    0.37426      0.054804
     75    6879.167     0.042046     0.042046       8.4089       0.6572      0.078154                 6879.167      0.4921     6.6926    0.40260      0.060156
     76    6589.926     0.046578     0.046578       8.0628       0.6713      0.083259                 6589.926      0.4569     6.5482    0.43171      0.065928
 77   6282.980   0.051538   0.051538   7.7227   0.6852   0.088721   6282.980   0.4213       6.3961    0.46141   0.072140
 78   5959.168   0.056956   0.056956   7.3892   0.6988   0.094565   5959.168   0.3855       6.2365    0.49150   0.078810
 79   5619.758   0.062867   0.062867   7.0631   0.7121   0.100814   5619.758   0.3500       6.0698    0.52174   0.085957
 80   5266.460   0.069303   0.069303   6.7448   0.7250   0.107496   5266.460   0.3149       5.8966    0.55190   0.093597
 81   4901.479   0.076300   0.076300   6.4349   0.7377   0.114636   4901.479   0.2808       5.7175    0.58173   0.101747
 82   4527.496   0.083893   0.083893   6.1339   0.7499   0.122262   4527.496   0.2478       5.5332    0.61098   0.110421
 83   4147.671   0.092117   0.092117   5.8422   0.7618   0.130402   4147.671   0.2164       5.3446    0.63940   0.119633
 84   3765.600   0.101007   0.101007   5.5602   0.7733   0.139084   3765.600   0.1868       5.1527    0.66675   0.129398
 85   3385.248   0.110600   0.110600   5.2881   0.7844   0.148337   3385.248   0.1592       4.9585    0.69283   0.139727
 86   3010.840   0.120929   0.120929   5.0262   0.7951   0.158189   3010.840   0.1340       4.7630    0.71746   0.150632
 87   2646.742   0.132028   0.132028   4.7748   0.8053   0.168667   2646.742   0.1112       4.5674    0.74049   0.162126
 88   2297.298   0.143929   0.143929   4.5338   0.8152   0.179800   2297.298   0.0908       4.3727    0.76182   0.174220
 89   1966.650   0.156660   0.156660   4.3033   0.8246   0.191611   1966.650   0.0731       4.1802    0.78139   0.186927
 90   1658.555   0.170247   0.170247   4.0834   0.8335   0.204125   1658.555   0.0578       3.9908    0.79919   0.200260
 91   1376.191   0.184714   0.184714   3.8740   0.8421   0.217362   1376.191
 92   1121.989   0.200079   0.200079   3.6750   0.8502   0.231342   1121.989
 93    897.503   0.216354   0.216354   3.4862   0.8579   0.246079    897.503            CHECKS: N.B. Set parameter 'Interest' to 4.0%
 94    703.324   0.233548   0.233548   3.3074   0.8652   0.261583    703.324            adue(50:10)     8.232
 95    539.064   0.251662   0.251662   3.1385   0.8721   0.277859    539.064            adue(55:10)     8.139
 96    403.402   0.270688   0.270688   2.9791   0.8786   0.294907    403.402            A*50:10       0.66442
 97    294.206   0.290613   0.290613   2.8290   0.8847   0.312720    294.206            A*55:10      0.668212
 98    208.706   0.311414   0.311414   2.6878   0.8904   0.331285    208.706            where A* denotes endowment assurance functions
 99    143.712   0.333058   0.333058   2.5553   0.8958   0.350581    143.712
100     95.848   0.355505   0.355505   2.4310   0.9009   0.370578     95.848
101     61.773   0.378702   0.378702   2.3148   0.9056   0.391238     61.773
102     38.380   0.402589   0.402589   2.2061   0.9101   0.412514     38.380
103     22.928   0.427090   0.427090   2.1047   0.9142   0.434350     22.928
104     13.136   0.452127   0.452127   2.0103   0.9180   0.456683     13.136
105      7.197   0.477601   0.477601   1.9223   0.9216   0.479437      7.197
106      3.760   0.503431   0.503431   1.8406   0.9250   0.502537      3.760
107      1.867   0.529487   0.529487   1.7647   0.9281   0.525890      1.867
108      0.878   0.555669   0.555669   1.6944   0.9309   0.549411      0.878
109      0.390   0.581860   0.581860   1.6292   0.9336   0.573022      0.390
110      0.163   0.607843   0.607843   1.5688   0.9360   0.596674      0.163
111      0.064   0.634375   0.634375   1.5120   0.9384   0.620604      0.064
112      0.023   0.658120   0.658120   1.4599   0.9405   0.644218      0.023
113      0.008   0.687500   0.687500   1.4023   0.9428   0.672328      0.008
114      0.003   0.720000   0.720000   1.3422   0.9453   0.704281      0.003
115      0.001   0.714286   0.714286   1.2741   0.9481   0.744121      0.001
116      0.000   1.000000   1.000000   1.0000   0.9592   0.959233      0.000
 'Interest' to 4.0%




surance functions
RATED MORTALITY CALCULATIONS

          This sheet calculates the net premiums assuming a mortality loading equal to the named range
          Rating on the PARAMS tab.
          The interest rate assumption is set on the PARAMS tab
                                                                                                                                                                        Calculation of Option Premium:-
          Whole of Life Contract                                                                     10 Year Term Assurance Contract
                                                                                                                                                                         Dx+10      Value of     Value of    Value of    Value of     Value of            Basic   Check
            Base         Base        Rated        Rated        Rated    Net Premium                      Rated      Rated     Rated      Rated Net Premium   Base WL      over       Basic        Basic        Extra      Extra        Option    Option   Policy   ratio
    Age       lx          qx           q^x       aduex^         Ax^         Px*^                           lx       10px    adue^(x:10) A^(x:10) P^(x:10)    Premium        Dx      Premium      Benefits    Premium     Benefits    Premiums Premium Premium opt:basic
     50    9712.073     0.002508     0.005016     15.0023        0.3884       0.0259                     9712.073    0.9142     8.1142 0.06624    0.008164     0.0183   0.630686        3010.1      3276.9       683.6      1010.9         594.2     72.2   182.5     40%
     51    9687.715     0.002809     0.005618     14.6709        0.4019       0.0274                     9663.357    0.9041     8.0857 0.07409    0.009163     0.0192   0.627199        3119.3      3392.8       696.0      1034.4         611.9     74.5   192.5     39%
     52    9660.502     0.003152     0.006304     14.3325        0.4157       0.0290                     9609.068    0.8928     8.0537 0.08283    0.010284     0.0203      0.6233       3231.5      3511.4       707.6      1057.1         629.4     76.7   203.0     38%
     53    9630.052     0.003539     0.007078     13.9873        0.4298       0.0307                     9548.493    0.8803     8.0179 0.09254    0.011541     0.0214   0.618948        3346.6      3632.6       718.1      1078.6         646.4     79.0   214.3     37%
     54    9595.972     0.003976     0.007952     13.6358        0.4441       0.0326                     9480.909    0.8665     7.9779 0.10329    0.012948     0.0226      0.6141       3464.7      3756.4       727.6      1098.7         662.8     81.2   226.2     36%
     55    9557.818     0.004469     0.008938     13.2784        0.4587       0.0345                     9405.516    0.8512     7.9333 0.11518    0.014519     0.0239   0.608711        3585.7      3882.6       735.8      1117.3         678.5     83.4   239.0     35%
     56    9515.104     0.005025     0.010050     12.9156        0.4735       0.0367                     9321.450    0.8344     7.8837 0.12828    0.016271     0.0253   0.602735        3709.5      4011.2       742.6      1134.2         693.3     85.5   252.5     34%
     57    9467.291     0.005650     0.011300     12.5482        0.4884       0.0389                     9227.769    0.8160     7.8287 0.14266    0.018222     0.0267   0.596123        3836.0      4141.9       747.9      1149.0         707.0     87.5   267.0     33%
     58    9413.800     0.006352     0.012704     12.1766        0.5036       0.0414                     9123.495    0.7959     7.7677 0.15840    0.020391     0.0282   0.588824        3965.3      4274.7       751.6      1161.6         719.4     89.3   282.3     32%
     59    9354.004     0.007140     0.014280     11.8015        0.5189       0.0440                     9007.591    0.7740     7.7004 0.17556    0.022799     0.0299   0.580788        4097.1      4409.3       753.6      1171.8         730.5     91.1   298.8     30%
     60    9287.216     0.008022     0.016044     11.4237        0.5343       0.0468                     8878.962    0.7504     7.6263 0.19421    0.025465     0.0316   0.571964        4231.3      4545.7       753.6      1179.1         739.9     92.8   316.3     29%
     61    9212.714     0.009009     0.018018     11.0439        0.5498       0.0498                     8736.508    0.7248     7.5449 0.21439    0.028415     0.0335   0.562299        4367.9      4683.5       751.6      1183.5         747.5     94.2   334.9     28%
     62    9129.717     0.010112     0.020224     10.6629        0.5653       0.0530                     8579.094    0.6973     7.4557 0.23613    0.031671     0.0355   0.551747        4506.8      4822.7       747.5      1184.7         753.1     95.5   354.9     27%
     63    9037.397     0.011344     0.022688     10.2815        0.5809       0.0565                     8405.590    0.6680     7.3584 0.25944    0.035258     0.0376   0.540262        4647.7      4963.0       741.2      1182.4         756.5     96.6   376.2     26%
     64    8934.877     0.012716     0.025432      9.9005        0.5964       0.0602                     8214.884    0.6368     7.2525 0.28432    0.039203     0.0399   0.527802        4790.5      5104.1       732.6      1176.4         757.5     97.4   398.9     24%
     65    8821.261     0.014243     0.028486      9.5210        0.6119       0.0643                     8005.963    0.6039     7.1376 0.31072    0.043533     0.0423   0.514333        4935.1      5246.0       721.6      1166.6         755.9     98.0   423.2     23%
     66    8695.620     0.015940     0.031880      9.1436        0.6272       0.0686                     7777.905    0.5693     7.0134 0.33858    0.048275     0.0449   0.499827        5081.1      5388.2       708.2      1152.7         751.6     98.4   449.2     22%
     67    8557.012     0.017824     0.035648      8.7692        0.6425       0.0733                     7529.946    0.5333     6.8798 0.36779    0.053459     0.0477   0.484265        5228.5      5530.7       692.4      1134.6         744.4     98.4   476.9     21%
     68    8404.492     0.019913     0.039826      8.3988        0.6576       0.0783                     7261.518    0.4960     6.7365 0.39822    0.059114     0.0507   0.467642        5377.1      5673.1       674.1      1112.3         734.3     98.1   506.6     19%
     69    8237.133     0.022226     0.044452      8.0332        0.6725       0.0837                     6972.321    0.4577     6.5836 0.42970    0.065269     0.0538   0.449967        5526.4      5815.2       653.4      1085.7         721.0     97.5   538.4     18%
     70    8054.054     0.024783     0.049566      7.6732        0.6872       0.0896                     6662.387    0.4188     6.4210 0.46201    0.071952     0.0572   0.431264        5676.4      5956.8       630.5      1054.7         704.7     96.6   572.4     17%
     71    7854.451     0.027606     0.055212      7.3196        0.7016       0.0959                     6332.159    0.3796     6.2491 0.49489    0.079194     0.0609   0.411577        5826.7      6097.7       605.2      1019.5         685.2     95.3   608.7     16%
     72    7637.621     0.030718     0.061436      6.9732        0.7157       0.1026                     5982.548    0.3404     6.0683 0.52807    0.087022     0.0648   0.390966        5977.1      6237.5       577.9       980.2         662.6     93.6   647.6     14%
     73    7403.008     0.034144     0.068288      6.6347        0.7295       0.1100                     5615.004    0.3019     5.8789 0.56124    0.095466     0.0689   0.369518        6127.2      6376.0       548.7       937.0         637.1     91.6   689.3     13%
     74    7150.240     0.037911     0.075822      6.3047        0.7430       0.1178                     5231.567    0.2643     5.6818 0.59405    0.104552     0.0734   0.347338        6276.7      6513.1       517.8       890.2         608.8     89.1   733.8     12%
     75    6879.167     0.042046     0.084092      5.9838        0.7561       0.1263                     4834.899    0.2282     5.4779 0.62616    0.114308     0.0782   0.324559        6425.3      6648.4       485.5       840.2         577.8     86.3   781.5     11%
     76    6589.926     0.046578     0.093156      5.6727        0.7687       0.1355                     4428.323    0.1941     5.2681 0.65725    0.124760     0.0833   0.301333        6572.6      6781.7       452.0       787.5         544.6     83.2   832.6     10%
     77    6282.980     0.051538     0.103076      5.3717        0.7810       0.1454                     4015.798    0.1622     5.0537 0.68698    0.135935     0.0887   0.277834        6718.3      6912.9       417.8       732.5         509.4     79.6   887.2       9%
     78    5959.168     0.056956     0.113912      5.0812        0.7929       0.1560                     3601.866    0.1331     4.8360 0.71505    0.147860     0.0946   0.254256        6862.0      7041.7       383.0       675.9         472.6     75.8   945.6       8%
     79    5619.758     0.062867     0.125734      4.8016        0.8043       0.1675                     3191.570    0.1070     4.6164 0.74124    0.160566     0.1008   0.230807        7003.4      7168.0       348.2       618.3         434.7     71.6  1008.1       7%
     80    5266.460     0.069303     0.138606      4.5332        0.8152       0.1798                     2790.281    0.0840     4.3965 0.76535    0.174082     0.1075   0.207707        7142.0      7291.4       313.7       560.5         396.2     67.2  1075.0       6%
     81    4901.479     0.076300     0.152600      4.2760        0.8257       0.1931                     2403.531    0.0643     4.1777 0.78726    0.188445     0.1146
     82    4527.496     0.083893     0.167786      4.0302        0.8357       0.2074                     2036.752    0.0479     3.9615 0.80693    0.203695     0.1223
     83    4147.671     0.092117     0.184234      3.7959        0.8452       0.2227                     1695.014    0.0345     3.7493 0.82439    0.219878     0.1304
     84    3765.600     0.101007     0.202014      3.5730        0.8543       0.2391                     1382.735    0.0240     3.5425 0.83975    0.237048     0.1391
     85    3385.248     0.110600     0.221200      3.3615        0.8630       0.2567                     1103.403    0.0160     3.3423 0.85317    0.255267     0.1483
     86    3010.840     0.120929     0.241858      3.1610        0.8711       0.2756                      859.330    0.0102     3.1495 0.86486    0.274600     0.1582
     87    2646.742     0.132028     0.264056      2.9716        0.8789       0.2958                      651.494    0.0062     2.9650 0.87505    0.295123     0.1687
     88    2297.298     0.143929     0.287858      2.7929        0.8861       0.3173                      479.463    0.0035     2.7893 0.88397    0.316910     0.1798
     89    1966.650     0.156660     0.313320      2.6245        0.8930       0.3403                      341.446    0.0019     2.6228 0.89185    0.340039     0.1916
     90    1658.555     0.170247     0.340494      2.4663        0.8995       0.3647                      234.464    0.0009     2.4655 0.89889    0.364582     0.2041
     91    1376.191     0.184714     0.369428      2.3179        0.9055       0.3907                      154.631
     92    1121.989     0.200079     0.400158      2.1788        0.9112       0.4182                       97.506
     93     897.503     0.216354     0.432708      2.0487        0.9165       0.4473                       58.488
     94     703.324     0.233548     0.467096      1.9272        0.9214       0.4781                       33.180
     95     539.064     0.251662     0.503324      1.8139        0.9261       0.5105                       17.682
     96     403.402     0.270688     0.541376      1.7083        0.9304       0.5446                        8.782
     97     294.206     0.290613     0.581226      1.6101        0.9344       0.5803                        4.028
     98     208.706     0.311414     0.622828      1.5189        0.9381       0.6176                        1.687
     99     143.712     0.333058     0.666116      1.4342        0.9415       0.6565                        0.636
    100      95.848     0.355505     0.711010      1.3556        0.9447       0.6969                        0.212
    101      61.773     0.378702     0.757405      1.2829        0.9477       0.7387                        0.061
    102      38.380     0.402589     0.805178      1.2155        0.9504       0.7819                        0.015
    103      22.928     0.427090     0.854181      1.1533        0.9530       0.8263                        0.003
    104      13.136     0.452127     0.904255      1.0958        0.9553       0.8718                        0.000
    105        7.197    0.477601     0.955202      1.0430        0.9575       0.9180                        0.000
    106        3.760    0.503431     1.000000      1.0000        0.9592       0.9592                        0.000
    107        1.867    0.529487     1.000000      1.0000        0.9592       0.9592
    108        0.878    0.555669     1.000000      1.0000        0.9592       0.9592
    109        0.390    0.581860     1.000000      1.0000        0.9592       0.9592
    110        0.163    0.607843     1.000000      1.0000        0.9592       0.9592
    111        0.064    0.634375     1.000000      1.0000        0.9592       0.9592
    112        0.023    0.658120     1.000000      1.0000        0.9592       0.9592
    113        0.008    0.687500     1.000000      1.0000        0.9592       0.9592
    114        0.003    0.720000     1.000000      1.0000        0.9592       0.9592
    115        0.001    0.714286     1.000000      1.0000        0.9592       0.9592
    116        0.000    1.000000     1.000000      1.0000        0.9592       0.9592
                                                    Comparison of Whole of Life and 10 year Term Assurance net premiums

                                        0.25




                                        0.20
Net premium p.a. (per £1 sum assured)




                                        0.15




                                        0.10


                                                                                                                Whole Life
                                                                                                                Term
                                        0.05




                                        0.00
                                               50        55        60        65         70         75     80           85
                                                                                    Age at Entry
                                                         Comparison of Whole of Life Premiums
                                                           Base Mortality and Rated Mortality
                                        0.40



                                        0.35
Net premium p.a. (per £1 sum assured)




                                        0.30



                                        0.25



                                        0.20



                                        0.15



                                        0.10
                                                                                                      Base Premium
                                                                                                      Rated Premium
                                        0.05



                                        0.00
                                               50   55   60       65         70         75      80   85               90
                                                                         Age at Entry
                                      BASIC PREMIUM AND OPTION PREMIUM

                     1200




                     1000




                      800
Annual Premium (£)




                      600




                      400

                                                                         Option Premium
                                                                         Basic Whole Life Premium
                      200




                        0
                            50   55        60          65         70          75                    80
                                                   Age at Entry

								
To top