Each member of a group of 200 independent lives aged x will receive a life annuity-due of $100 per year paid from a trust fund. You are given that13.01704at i = 4%,9.59176at i = 8.16%Let Y denote the present value random variable for the total annuity payments for all the groupmembers.äx =Using a normal approximation to the distribution of Y, calculate the amount that should bedeposited in the trust fund to be 90% certain that the funds will be sufficient to pay the benefits.(i = 4%).

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Answered: Each member of a group of 200…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

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