nc_price_lifetime_youth: Calculate compounded price for youth lifetimes
In southwick-associates/lifetime: Provide functions for lifetime pricing

Description Usage Arguments See Also Examples

This function is based on the assumption that youth lifetime sales are treated differently than those for adults. In NC, the revenue for a youth sale cannot be withdrawn (from the fund) until age 16. This implies that a youth lifetime license sale has greater value (since it is able to compound). Therefore the effective price is higher than the sticker price for the purpose of calculating present value of the lifetime license.

1 2	nc_price_lifetime_youth(prices, return_life, inflation, youth_ages = 0:15)

`prices`	data frame of lifetime prices by age with at least 2 variables: current_age and price_lifetime
`return_life`	percentage return from lifetime fund
`inflation`	inflation rate for depreciation of lifetime fund
`youth_ages`	if not NULL, assumes for youths that the fund is able to compound until adulthood (when the agency will begin drawing revenue). See `nc_price_lifetime_youth` for details.

Other wrapper functions for NC results: nc_break_even_yrs, nc_break_even, nc_retain_youth, nc_retain, nc_revenue

library(dplyr)
library(ggplot2)
prices <- tibble(
    current_age = c(0:15, 16:63),
    price_lifetime = c(rep(250, 64))
)
prices2 <- nc_price_lifetime_youth(prices, 0.05, 0.022)
ggplot(prices, aes(current_age, price_lifetime)) +
    geom_line() +
    geom_line(data = prices2, color = "blue") +
    scale_y_continuous(limits = c(0, 600))