An army of mercenaries has a constant size of 1000. Each year all new entrants are at
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An army of mercenaries has a constant size of 1000. Each year all new entrants are at exact age 25, and any soldier reaching age 55 must retire. No one can leave the army except by death or retirement (at age 55). There are seventy deaths each year among soldiers, the average age at death being 35.
(a) How many new soldiers enter each year?
(b) How many soldiers retire 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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