In actuarial science, the Actuarial Present Value (or APV) is the certainty equivalent (or more typically, the expected value) of the present value of a contingent cashflow stream (i.e. a series of random payments). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities. The probability of a future payment is based on assumptions about the person's future mortality which is typically estimated using a life table.
Read more about Actuarial Present Value: Life Insurance, Life Annuity, Life Insurance As A Function of The Life Annuity
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“How many a man has dated a new era in his life from the reading of a book! The book exists for us, perchance, that will explain our miracles and reveal new ones. The at present unutterable things we may find somewhere uttered.”
—Henry David Thoreau (1817–1862)