From [Institution name]
45 ÷ 9 + 2 ⋅ 3 2 = = = = 45 ÷ 9 + 2 ⋅ 9 5 + 2 ⋅ 9 5 + 18 23
I R R i ¯ par = 1 6 ∑ q = 1 6 I R R i par in quarter q
A Net is given by :
A N e t = { ( 0.4 × A gross ) + ( 0.6 × N P R × A gross ) 0.4 × A gross for netted contracts where the net replacement t cost is > 0 for netted contracts where the net replacement t cost = 0