Notes on the Effect of Changes in Rates of Interest on the Bonus-Earning Power of an Office Paying a Uniform Compound Reversionary Bonus
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SynopsisThe Paper discusses the general problem of appreciation and depreciation, with special reference to the relation between maturing assets and maturing liabilities, and describes a method of calculating the bonus-earning power of different classes of policy. This method is used to test the effect on bonus-earning power of two types of changes in interest rates:–(a)a change, such as that caused by the War Loan conversion of 1932, which takes effect gradually; and(b)a subsequent change, due to a rise in the rate of income tax, which has an immediate effect on the income from existing as well as investments.
1991 ◽
Vol 112
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pp. 52-55
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1999 ◽
Vol 103
(1022)
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pp. 182-186
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1994 ◽
Vol 144
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pp. 431-434
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1979 ◽
Vol 44
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pp. 357-372
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1977 ◽
Vol 35
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pp. 210-211
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1970 ◽
Vol 28
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pp. 542-543
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1967 ◽
Vol 25
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pp. 170-171