CAN YOU PLEASE ADD FORMULAS SO I CAN COMPLETE SIMILAR QUESTIONS ON MY OWN. ?Thank you!

2. An insurance company's losses of a particular type per year are to a reasonable approximation normally distributed with a mean of $150 million and a standard deviation of $50 million. (Assume that the risks taken on by the insurance company are entirely non-systematic.) The one-year risk-free rate is 5% per annum with annual compounding. Estimate the cost of the following a. A contract that will pay in one year's time 60% of the insurance company's costs on a pro rata basis b. A contract that pays $100 million in one year's time if losses exceed $200 million