At one of the meetings of this Society last session a paper was read on this subject by Mr. Meikle, which gave rise to considerable discussion on the question; and as no definite result was arrived at, I believe a further investigation of the problem will not be without interest. Accordingly, I propose to go over the various formulas given for the value of this annuity, and offer some remarks upon each, stating wherein they are essentially different, and what appears to me to be the exact interpretation of each.