A service club has a constant membership of 1,000. X new entrants are added each year at
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A service club has a constant membership of 1,000. X new entrants are added each year at exact age 35. Withdrawals are either by death or by retirement. 40% of those who reach age 50 retire at that time and all others retire at age;65. Express each of the following in terms of population functions: ^^
(a) The number of annual entrants at age 35.
(b) The number of members who retire each year at age 50.
(c) The number of members who die each year.
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Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach
ISBN: 978-1566983334
3rd Edition
Authors: Asa Michael M. Parmenter, Ph.d.
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