a life annuity was a way to obtain a regular income from a reliable source. The state, for instance, could provide a widow with a regular income until her death, in exchange for a 'lump sum' up front. There were also redemption bonds that were more like a regular state loan. De Witt showed that for the same principal a bond paying 4% interest would result in the same profit as a life annuity of 6% (1 in 17). But the 'Staten' at the time were paying over 7% (1 in 14). The publication about life annuities is "one of the first applications of probability in economics." References Footnotes Bibliography External links 17th-century Dutch politicians 17th-century Dutch mathematicians 1625 births 1672 deaths Assassinated Dutch politicians Cannibalised people Deaths by firearm in the Netherlands Dutch members of the Dutch Reformed Church Dutch States Party politicians Grand Pensionaries Leiden University alumni Lynching deaths Mathematical analysts People from Dordrecht People murdered in the Netherlands University of Angers (pre-1793) alumni De Witt family