It is easiest to understand the subject by approaching it arithmetically and remembering that in practice tables give values of n V for integral values of n.

Throughout these notes it is assumed that n V = n V (m) if n is integral. The error cannot exceed 1 per cent, of the true value where the entry age is 35, or 3 per cent, where the entry age is 60. As mentioned in the Text Book, Part II., p. 346, the maximum percentage error arises when m becomes infinite and is one-half of the net annual premium per cent, for Whole Life Assurances. For Endowment Assurances the differences are very small, increasing with the maturity age.