Description: While we agree with the conclusions expressed by Silver and Hedges The Classical Definition of Compound Interest is Adequate by Murray Silver and Bob Hedges, ARCH 1981.2, we do not believe the theorem follows from the stated Axiom. We present an alternative proof which uses only the accumulation function and not the force of interest.

Description: This is a letter from Jan M. Hoem to Arnold F. Shapiro about Exposed-to-risk considerations based on the Balducci assumption and other assumptions in the analysis of mortality.

Description: Generally accepted accounting principles 'GAAP' are those that apply to external financial reporting of publicly owned business enterprises. The principles that constitute GAAP vary between stock and mutual insurers, from product class to product class, and according to the purchase status of the business. This paper highlights additional reading materials that provide concise information regarding GAAP principals.