55-274 - Makehamized mortality table.

§ 55-274. Makehamized mortality table.

When more than two parties as joint tenants for life, or three or moreparties as tenants in successive estates are entitled to the annual intereston a sum of money, or are entitled to the use of any estate, or a partthereof, and are willing to accept a gross sum in lieu thereof, or the partyliable for such interest, or affected by such claim, has the right to pay agross sum in lieu thereof, or if the court in any legal proceeding decree agross sum to be paid in lieu thereof, the sum shall be estimated according tothe then value of an annuity of eight percent on the principal sum during theprobable lives of such persons which probable lives shall be computed fromthe Makehamized mortality table for total population in the United States,1969-1971, published by the Bureau of the Census of the Department ofCommerce.

  X Ax Axx Axxx Axxxx Cx
0 12.060 11.670 11.305 10.958 1.000
1 12.291 12.124 11.973 11.832 1.147
2 12.291 12.127 11.979 11.843 1.315
3 12.286 12.120 11.971 11.834 1.508
4 12.278 12.107 11.956 11.816 1.730
5 12.267 12.091 11.934 11.791 1.984
6 12.256 12.071 11.909 11.760 2.275
7 12.242 12.049 11.879 11.724 2.609
8 12.227 12.024 11.846 11.684 2.992
9 12.211 11.996 11.809 11.638 3.431
  10 12.192 11.965 11.766 11.587 3.935
  11 12.171 11.930 11.720 11.529 4.512
  12 12.149 11.892 11.668 11.466 5.175
  13 12.125 11.852 11.615 11.401 5.935
  14 12.102 11.812 11.562 11.336 6.806
  15 12.078 11.773 11.510 11.274 7.805
  16 12.055 11.736 11.462 11.215 8.951
  17 12.032 11.701 11.416 11.162 10.265
  18 12.010 11.666 11.373 11.111 11.772
  19 11.988 11.632 11.330 11.062 13.501
  20 11.964 11.596 11.286 11.011 15.483
  21 11.939 11.559 11.240 10.959 17.756
  22 11.913 11.521 11.193 10.905 20.362
  23 11.886 11.480 11.144 10.850 23.352
  24 11.857 11.437 11.091 10.789 26.780
  25 11.824 11.389 11.032 10.723 30.712
  26 11.789 11.336 10.968 10.649 35.221
  27 11.751 11.278 10.896 10.567 40.392
  28 11.709 11.215 10.818 10.478 46.321
  29 11.664 11.148 10.734 10.382 53.122
  30 11.615 11.075 10.645 10.279 60.921
  31 11.564 10.998 10.550 10.171 69.865
  32 11.510 10.917 10.450 10.056 80.122
  33 11.452 10.831 10.344 9.936 91.885
  34 11.391 10.741 10.233 9.809 105.375
  35 11.326 10.645 10.117 9.677 120.845
  36 11.258 10.545 9.995 9.539 138.586
  37 11.186 10.440 9.868 9.396 158.932
  38 11.110 10.331 9.735 9.247 182.266
  39 11.031 10.217 9.599 9.094 209.024
  40 10.948 10.098 9.457 8.936 239.712
  41 10.861 9.975 9.311 8.773 274.904
  42 10.770 9.847 9.159 8.605 315.263
  43 10.675 9.714 9.002 8.432 361.548
  44 10.576 9.576 8.841 8.256 414.627
  45 10.473 9.434 8.677 8.076 475.500
  46 10.365 9.288 8.508 7.893 545.309
  47 10.254 9.138 8.336 7.707 625.367
  48 10.138 8.983 8.160 7.517 717.178
  49 10.018 8.824 7.979 7.234 822.468
  50 9.893 8.661 7.796 7.129 943.217
  51 9.764 8.493 7.608 6.930 1081.692
  52 9.631 8.322 7.418 6.730 1240.497
  53 9.493 8.147 7.226 6.529 1422.617
  54 9.352 7.970 7.033 6.328 1631.475
  55 9.207 7.790 6.838 6.127 1870.995
  56 9.057 7.608 6.643 5.927 2145.679
  57 8.904 7.423 6.447 5.727 2460.691
  58 8.747 7.237 6.250 5.529 2821.950
  59 8.586 7.048 6.053 5.331 3236.246
  60 8.421 6.856 5.855 5.133 3711.365
  61 8.252 6.662 5.656 4.936 4256.238
  62 8.078 6.466 5.457 4.740 4881.105
  63 7.900 6.267 5.257 4.544 5597.710
  64 7.718 6.067 5.056 4.349 6419.521
  65 7.532 5.865 4.857 4.157 7361.984
  66 7.343 5.663 4.659 3.967 8442.811
  67 7.150 5.460 4.462 3.780 9682.318
  68 6.954 5.256 4.266 3.596 11103.798
  69 6.755 5.052 4.072 3.414 12733.969
  70 6.552 4.847 3.879 3.234 14603.468
  71 6.345 4.640 3.685 3.055 16747.432
  72 6.134 4.431 3.490 2.875 19206.157
  73 5.920 4.222 3.296 2.697 22025.851
  74 5.705 4.015 3.106 2.523 25259.510
  75 5.491 3.812 2.922 2.356 28967.909
  76 5.279 3.615 2.745 2.197 33220.746
  77 5.069 3.424 2.577 2.047 38097.950
  78 4.861 3.239 2.415 1.905 43691.186
  79 4.654 3.057 2.258 1.768 50105.577
  80 4.448 2.879 2.106 1.636 57461.677
  81 4.244 2.706 1.959 1.509 65897.740
  82 4.044 2.538 1.818 1.389 75572.319
  83 3.846 2.376 1.684 1.276 86667.243
  84 3.652 2.217 1.554 1.166 99391.034
  85 3.459 2.061 1.425 1.058 113982.830
  86 3.272 1.911 1.302 0.955 130716.878
  87 3.097 1.774 1.192 0.863 149907.684
  88 2.934 1.651 1.095 0.784 171915.931
  89 2.780 1.537 1.007 0.713 197155.252
  90 2.630 1.426 0.922 0.645 226100.009
  91 2.485 1.319 0.839 0.579 259294.204
  92 2.350 1.220 0.763 0.519 297361.704
  93 2.227 1.131 0.695 0.465 341017.971
  94 2.118 1.053 0.636 0.419 391083.501
95 2.024 0.986 0.586 0.380 448499.252
  96 1.943 0.931 0.546 0.349 514344.324
  97 1.873 0.885 0.512 0.324 589856.243
  98 1.811 0.845 0.484 0.302 676454.218
  99 1.754 0.810 0.459 0.284 775765.815
 100 1.701 0.779 0.437 0.268 889657.545
 101 1.651 0.751 0.417 0.254  1020269.949
 102 1.602 0.726 0.400 0.241  1170057.821
 103 1.550 0.703 0.385 0.230  1341836.349
 104 1.492 0.682 0.372 0.221  1538834.028
 105 1.420 0.661 0.359 0.212  1764753.329
 106 1.322 0.637 0.348 0.205  2023840.295
 107 1.178 0.602 0.335 0.197  2320964.336
 108 0.955 0.535 0.312 0.188  2661709.752
 109 0.595 0.383 0.246 0.158  3052480.684

Example: Three persons age 30, 40, and 45 are joint tenants for life in thewhole of an estate worth $10,500: the equivalent equal age, w, of these 3persons is given by the following formula:

C 30 + C 40 + C 45
C w = ________________ = 258.711 where
3
C 30, C 40, and C 45 are found in column 6 of the above table.  

A linear interpolation between x = 40 and x = 41 in the above table wouldyield the value of x = 40.540 which would be the equivalent equal age of thepersons involved.

Finally, a linear interpolation between x = 40 and x = 41 would yield thevalue of A = 9.378 40.540:40.540:40.540

This figure multiplied by $840 (the interest at 8% on $10,500) gives$7,877.52 as the gross value of the joint life estate of such persons therein.

(1946, p. 557; Michie Suppl. 1946, § 5133a3; 1973, c. 355; 1981, c. 612.)