Chap. 263.—An ACT to establish a rule and table for computing the
value of a life estate for annuity.

Approved March 14, 1878.

1. Be it enacted by the general assembly, That when a
party as tenant for life, or by the courtesy, or in dower, is
entitled to the annual interest on a sum of money, or is enti-
tled to the use of any estate, or a part thereof, and is willing
to accept a gross sum in lieu thereof, or the party liable for
such interest, or affected by such claim, has the right to pay
a gross sum in lieu thereof, or if the court in any legal pro-
ceeding decree a gross sum to be paid in lieu thereof, the
sum shall be estimated according to the then value of an
annuity of six per centum on the principal sum during the
stata life of such person, according to the following
table:
TABLE

Showing the present value, on the basis of six per centum in-
terest, of an annuity of one dollar, payable at the end of every
year that a person of a given age may be living, for the ages
therein stated.

—e-- =e - - opie) eek SIR eee ees ee > “+ ee

bl PRESENT tl PRERENT bl PRERFENT | PRESENT
< VALUE. < VALUE. < VALUE, = VALUE
—_—— | == -
0 S1O.A3G | 26 $13.368 .52' $10.208 | 78 $4.238
1 12.078 27 13.275 53 i 9.988 79 4.040
2 12.025 | ve 13.182 | 54 | 9.761 | 80 8.858
3 13.652 29 13.096 5D | 9,524 81 3.656
4 | 14.042 | 30 18.0200 | 56 | 9.280 | 82 3.474
5 14.9325 0.3 12.942 D7 | 9.027 &3 3.286
6 14.4600 | 32 12860 | 58 | 8.772 | 84 3.102
7 14.518 33 12.771 59 8.529 85 2.909
8 14.526 | 34 12.675 GO | 8.304 86 2.7389
9 14.500 | 35 12.578 G1! 8.108 87 2.599
10 14.448 | 36 12.465 | 62 | 7.9138 | 88° 2.515
11 14.384 | 37 12.354 | 63 7.714 | &Y 2.417
12 14.321 5 12.238 64 7.502 90 2.266
13 “14.257 39 12.120 65 7.281 91 2.248
14 14.191 : 40) 12.002 66 7.049 92 2.3387
16 14.126 | 41 11.890 67 6.803 93 2.440
16 | 14.067 | 42 11.779 68 6.546 94 2.492
17 14.012 43 11.668 69 6.277 95 2.522
18 13.956 44 11.551 70 5.998 96 2.486
19 13.897 45 11.428 71 5.704 97 2.368
20 13.835 | 46 11.296 | 72 5.424 | 98 2.227 |
21 18.769 47 11.154 73 5.170 99 2.004
22 13.697 48 10.998 74 4.944 1/100 1.596
23 13.621 49 10.8238 75 4.760 {101 1.175
24 13.541 50 10.631 76 4.579 {102 0.744
25 13.456 26] 18.456 1 5 51 10.422 77 4.410 |1Q38 0.314

Rule for computing the present value of the life estate or
annuity.

2. Calculate the interest at. six per centum upon the sum
to the income of which, or upon the value of the property
to the use of which the person is entitled. Multiply this
interest by the present value of an annuity of one dollar, as
set opposite the person’s age in the table, and the product 18
the gross value of the life estate of such person therein.

Examples.

3. Suppose a person whose age is forty-two is tenant for
life in the whole of an estate worth ten thousand and five
hundred dollars, the annual interest on that sum, at six per
centum, is six hundred and thirty dollars. The present value
of an annuity of one dollar at the age of forty-two, as ap-
pears by the table, is eleven dollars seventy-seven cents and
nine mills, which, multiplied by six hundred and thirty dol-
lars, gives seven thousand four hundred and twenty dollars
and seventy-seven cents as the gross value of such life estate
in the premises, or the proceeds thereof; then, suppose a
widow whose age is thirty-six is entitled to dower in real
estate worth twelve thousand dollars, interest on four thou-
sand dollars, the third part thereof, for one year, is two hun-
dred and forty dollars, which, multiplied by twelve dollars
forty-six cents and five mills, the present value of an annuity
of one dollar at the age of thirty-six, as appears by the table,
gives two thousand nine hundred and ninety-one dollars and
sixty cents, as the gross value of such dower.