Whenever it is necessary toestablish the present worth or cash value of an annuity to a person, payableannually during the person's life, such present worth or cash value may beascertained by the use of the following table in connection with the mortalitytables established by law, the first column representing the number of yearsthe annuity is to run and the second column representing the present cash valueof an annuity of one dollar for such number of years, respectively:
The present cash value of theannuity for a fraction of a year may be ascertained as follows: Multiply thedifference between the cash value of the annuities for the preceding andsucceeding full years by the fraction of the year in decimals and add the sumto the present cash value for the preceding full year. When a person isentitled to the use of a sum of money for life, or for a given time, theinterest thereon for one year, computed at four and one half percent (4 1/2%),may be considered as an annuity and the present cash value be ascertained asherein provided: Provided, the interest rate in computing the present cashvalue of a life interest in land shall be six percent (6%).
Whenever the mortality tablesset out in G.S. 8‑46 are admissible in evidence in any action orproceeding to establish the expectancy of continued life of any person from anyperiod of the person's life, whether the person is living at the time or not,the annuity tables herein set forth shall be evidence, but not conclusive, ofthe loss of income during the period of life expectancy of the person. (1905,c. 347; Rev., s. 1627; C.S., s. 1791; 1927, c. 215; 1943, c. 543; 1957, c. 497;1959, c. 879, s. 3; 1965, c. 991; 1997‑133, s. 2.)
Whenever it is necessary toestablish the present worth or cash value of an annuity to a person, payableannually during the person's life, such present worth or cash value may beascertained by the use of the following table in connection with the mortalitytables established by law, the first column representing the number of yearsthe annuity is to run and the second column representing the present cash valueof an annuity of one dollar for such number of years, respectively:
The present cash value of theannuity for a fraction of a year may be ascertained as follows: Multiply thedifference between the cash value of the annuities for the preceding andsucceeding full years by the fraction of the year in decimals and add the sumto the present cash value for the preceding full year. When a person isentitled to the use of a sum of money for life, or for a given time, theinterest thereon for one year, computed at four and one half percent (4 1/2%),may be considered as an annuity and the present cash value be ascertained asherein provided: Provided, the interest rate in computing the present cashvalue of a life interest in land shall be six percent (6%).
Whenever the mortality tablesset out in G.S. 8‑46 are admissible in evidence in any action orproceeding to establish the expectancy of continued life of any person from anyperiod of the person's life, whether the person is living at the time or not,the annuity tables herein set forth shall be evidence, but not conclusive, ofthe loss of income during the period of life expectancy of the person. (1905,c. 347; Rev., s. 1627; C.S., s. 1791; 1927, c. 215; 1943, c. 543; 1957, c. 497;1959, c. 879, s. 3; 1965, c. 991; 1997‑133, s. 2.)
Whenever it is necessary toestablish the present worth or cash value of an annuity to a person, payableannually during the person's life, such present worth or cash value may beascertained by the use of the following table in connection with the mortalitytables established by law, the first column representing the number of yearsthe annuity is to run and the second column representing the present cash valueof an annuity of one dollar for such number of years, respectively:
The present cash value of theannuity for a fraction of a year may be ascertained as follows: Multiply thedifference between the cash value of the annuities for the preceding andsucceeding full years by the fraction of the year in decimals and add the sumto the present cash value for the preceding full year. When a person isentitled to the use of a sum of money for life, or for a given time, theinterest thereon for one year, computed at four and one half percent (4 1/2%),may be considered as an annuity and the present cash value be ascertained asherein provided: Provided, the interest rate in computing the present cashvalue of a life interest in land shall be six percent (6%).
Whenever the mortality tablesset out in G.S. 8‑46 are admissible in evidence in any action orproceeding to establish the expectancy of continued life of any person from anyperiod of the person's life, whether the person is living at the time or not,the annuity tables herein set forth shall be evidence, but not conclusive, ofthe loss of income during the period of life expectancy of the person. (1905,c. 347; Rev., s. 1627; C.S., s. 1791; 1927, c. 215; 1943, c. 543; 1957, c. 497;1959, c. 879, s. 3; 1965, c. 991; 1997‑133, s. 2.)