3. A company has 100 retirees each receiving a continuous pension of 5000 per year for life, starting immediately. The company creates a fund to pay all future pensions for these retirees. You are given: a) For each retiree, u = 0.02 b) != 0.08 c) The amount of the fund is determined, using the normal approximation, so that the probability that the fund is sufficient to make all payments is 95%. Calculate the initial amount of the fund. 3. A company has 100 retirees each receiving a continuous pension of 5000 per year for life, starting immediately. The company creates a fund to pay all future pensions for these retirees. You are given: a) For each retiree, u = 0.02 b) != 0.08 c) The amount of the fund is determined, using the normal approximation, so that the probability that the fund is sufficient to make all payments is 95%. Calculate the initial amount of the fund