johnmo4616 johnmo4616

27-10-2022
Business

Answered

7. a company has 100 retirees each receiving a continuous pension of 5000 per year for life, starting immediately. the company creates a fund to pay all future pensions for these retirees. you are given: a) for each retiree, b) c) the amount of the fund is determined, using the normal approximation, so that the probability that the fund is sufficient to make all payments is 95%. calculate the initial amount of the fund.

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