You wish to have $200,000 at the end of twenty years. In the last five years, you withdraw $1,000 annually at a rate of 3.8% com
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Answer:
Step-by-step explanation:
The PDF of X is
The PDF of Y is
The means of X and Y are respectively,
so we can see that the larger the parameter, the smaller the mean. Hence the PDF of Z = min(X, Y) is an exponential with the largest parameter of the two.
Therefore, the PDF of Z is
The missing value is 53.
