For continuously compounded interest:
Amount = Principle * e^(rate * time)
A rate of 8% converted to a decimal value: r=0.08
With time t=4
and amount 1190
Plug all these values in,
1190 = Principle * e^(0.08 * 4)
And use your calculator to solve for the principle.
Maybe we'll call it P to make things easier.
1190 = P * e^(0.08 * 4)
1190 = P * 1.377
The principle is being multiplied by this 1.377,
divide by 1.377 to undo the multiplication.
864.11735 = P
Answer:
Step-by-step explanation:
Let X be length of life of the participants in the plan.
Given that X is N(68,3.5)
We convert this to standard normal score z using

a) proportion of the plan recipients that would receive payments beyond age 75=
b) proportion of the plan recipients die before they reach the standard retirement age of 65=
c) x for 86% ceased

Check the picture below.
make sure your calculator is in Degree mode.
Answer:
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Step-by-step explanation: