55-271 - Example. - Virginia Statutes

§ 55-271. Example.

Suppose a person whose age is 42 is tenant for life in the whole of an estateworth $10,500. The annual interest on that sum at 8 percent is $840. Thepresent value of an annuity of $1 at the age of 42, as appears by the table,is $10.77, which, multiplied by $840, gives $9,046.80 as the gross value ofsuch life estate in the premises, or the proceeds thereof.

(Code 1919, § 5133; 1946, p. 555; 1973, c. 355; 1981, c. 612; 1990, c. 831.)