§ 8.47

\nWhenever it is necessary to establish the present worth or cash value of an annuity to a person, payable annually during the person's life, such present worth or cash value may be ascertained by the use of the following table in connection with the mortality tables established by law, the first column representing the number of years the annuity is to run and the second column representing the present cash value of an annuity of one dollar for such number of years, respectively:\nNo. of Years Annuity Cash Value of the Annuity\nis to Run of $1\n1 $ 0.943\n2 1.833\n3 2.673\n4 3.465\n5 4.212\n6 4.917\n7 5.582\n8 6.210\n9 6.802\n10 7.360\n11 7.887\n12 8.384\n13 8.853\n14 9.295\n15 9.712\n16 10.106\n17 10.477\n18 10.828\n19 11.158\n20 11.470\n21 11.764\n22 12.042\n23 12.303\n24 12.550\n25 12.783\n26 13.003\n27 13.211\n28 13.406\n29 13.591\n30 13.765\n31 13.929\n32 14.084\n33 14.230\n34 14.368\n35 14.498\n36 14.621\n37 14.737\n38 14.846\n39 14.949\n40 15.046\n41 15.138\n42 15.225\n43 15.306\n44 15.383\n45 15.456\n46 15.524\n47 15.589\n48 15.650\n49 15.708\n50 15.762\n51 15.813\n52 15.861\n53 15.907\n54 15.950\n55 15.991\n56 16.029\n57 16.065\n58

0 15.046\n41 15.138\n42 15.225\n43 15.306\n44 15.383\n45 15.456\n46 15.524\n47 15.589\n48 15.650\n49 15.708\n50 15.762\n51 15.813\n52 15.861\n53 15.907\n54 15.950\n55 15.991\n56 16.029\n57 16.065\n58 16.099\n59 16.131\n60 16.161\n61 16.190\n62 16.217\n63 16.242\n64 16.266\n65 16.289\n66 16.310\n67 16.331\nThe present cash value of the annuity for a fraction of a year may be ascertained as follows: Multiply the difference between the cash value of the annuities for the preceding and succeeding full years by the fraction of the year in decimals and add the sum to the present cash value for the preceding full year. When a person is entitled to the use of a sum of money for life, or for a given time, the interest thereon for one year, computed at four and one half percent (4 1/2%), may be considered as an annuity and the present cash value be ascertained as herein provided: Provided, the interest rate in computing the present cash value of a life interest in land shall be six percent (6%).\nWhenever the mortality tables set out in G.S. 8-46 are admissible in evidence in any action or proceeding to establish the expectancy of continued life of any person from any period of the person's

\nWhenever the mortality tables set out in G.S. 8-46 are admissible in evidence in any action or proceeding to establish the expectancy of continued life of any person from any period of the person's life, whether the person is living at the time or not, the annuity tables herein set forth shall be evidence, but not conclusive, of the loss of income during the period of life expectancy of the person. (1905, c. 347; Rev., s. 1627; C.S., s. 1791; 1927, c. 215; 1943, c. 543; 1957, c. 497; 1959, c. 879, s. 3; 1965, c. 991; 1997-133, s. 2.)