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Business, 22.04.2020 03:10 beccaxhope

An actuary has determined that a company needs to have a $90,000,000 balance in its pension fund 20 years from now. An interest rate of 8% is considered appropriate for all pension fund calculations. You are given the following two interest factors: (i) Present value of an ordinary annuity factor at 8% equals 9.8181; and (ii) Future value of an ordinary annuity factor at 8% equals 45.762. How much must the company contribute to the fund each year? (a) $9.1667 million (b) $883.629 million (c) $1.967 million (d) $9.8181 million

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An actuary has determined that a company needs to have a $90,000,000 balance in its pension fund 20...
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