Question: For a group of 100 individuals, all age 30, you are given: Their future lifetimes are independent Each individual is paid 10 at

For a group of 100 individuals, all age 30, you are given:
• Their future lifetimes are independent
• Each individual is paid 10 at the beginning of the year, if alive
• Mortality and Interest: Illustrative Life Table with i = 6%
Calculate the size of the fund needed at inception in order to be 99% certain of having enough money to pay the life annuities.

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