Find the age at which payments have ceased for approximately

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Calculate: A company that sells annuities must base the annual payment onthe probability distribution of the length of life of the participants in the plan. suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. Find the age at which payments have ceased for approximately 86% of the plan participants.

Reference no: EM132426295

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