Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Engineering Posted 21 Jul 2017 My Price 3.00

accumulated savings

4-122. Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $2,000 is set aside each year and invested in a savings account that pays 10% interest per year, compounded continuously. (4.16)

 

          Determine the accumulated savings in this account at the end of 30 years.

 

           In Part (a), suppose that an annuity will be withdrawn from savings that have been accum-ulated at the EOY 30. The annuity will extend from the EOY 31 to the EOY 40. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change?

Answers

(5)
Status NEW Posted 21 Jul 2017 12:07 PM My Price 3.00

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