1. A fund is established for the benefit of 500 workers all age 35 with independent future life- times. When they reach age 65, the fund will be dissolved and distributed to the survivors. The fund will earn interest at a rate of 5% per year. The initial fund balance, F, is determined so that the probability that the fund will pay at least 5000 to each survivor is 90%, using the normal approximation. Mortality follows the Standard Ultimate Life Table. Calculate F. (Round your answer to a multiple of 1,000.) (A) 457,000 (B) 482,000 (C) 507,000 (D) 532,000 (E) 557,000

1. A fund is established for the benefit of 500 workers all age 35 with independent future life- times. When they reach age 65, the fund will be dissolved and distributed to the survivors. The fund will earn interest at a rate of 5% per year. The initial fund balance, F, is determined so that the probability that the fund will pay at least 5000 to each survivor is 90%, using the normal approximation. Mortality follows the Standard Ultimate Life Table. Calculate F. (Round your answer to a multiple of 1,000.) (A) 457,000 (B) 482,000 (C) 507,000 (D) 532,000 (E) 557,000

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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