# Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $1,700... ###### Question: Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that$1,700 is set aside each year and invested in a savings account that pays 8​% interest per​ year, compounded continuously.

a. Determine the accumulated savings in this account at the end of 21 years.

b. In Part​ (a), suppose that an annuity will be withdrawn from savings that have been accumulated at the EOY 21. The annuity will extend from the EOY 22 to the EOY 30. What is the value of this annuity if the interest rate and compounding frequency in Part​ (a) do not​ change?

Continuous Compounding; i = 8% Single Payment Uniform Series Compound Compound Capital Amount Present Amount Present Sinking Fund Recovery Factor Worth Factor Factor Worth Factor Factor Factor To Find F To Find P To Find F To Find P To Find A To Find A Given P Given F Given A Given A Given F Given P F/P P/F FIA PIA A/F A/P 1.0833 0.9231 1.0000 0.9231 1.0000 1.0833 1.1735 0.8521 2.0833 1.7753 0.4800 0.5633 1.2712 0.7866 3.2568 2.5619 0.3071 0.3903 1.3771 0.7261 4.5280 3.2880 0.2208 0.3041 1.4918 0.6703 5.9052 3.9584 0.1693 0.2526 1.6161 0.6188 7.3970 4.5771 0.1352 0.2185 1.7507 0.5712 9.0131 5.1483 0.1109 0.1942 1.8965 0.5273 10.7637 5.6756 0.0929 0.1762 2.0544 0.4868 12.6602 6.1624 0.0790 0.1623 2.2255 0.4493 14.7147 6.6117 0.0680 0.1512 2.4109 0.4148 16.9402 7.0265 0.0590 0.1423 2.6117 0.3829 19.3511 7.4094 0.0517 0.1350 2.8292 0.3535 21.9628 7.7629 0.0455 0.1288 3.0649 0.3263 24.7920 8.0891 0.0403 0.1236 3.3201 0.3012 27.8569 8.3903 0.0359 0.1192 3.5966 0.2780 31.1770 8.6684 0.0321 0.1154 3.8962 0.2567 34.7736 8.9250 0.0288 0.1120 4.2207 0.2369 38.6698 9.1620 0.0259 0.1091 4.5722 0.2187 42.8905 9.3807 0.0233 0.1066 4.9530 0.2019 47.4627 9.5826 0.0211 0.1044 5.3656 0.1864 52.4158 9.7689 0.0191 0.1024 5.8124 0.1720 57.7813 9.9410 0.0173 0.1006 6.2965 0.1588 63.5938 10.0998 0.0157 0.0990 6.8210 0.1466 69.8903 10.2464 0.0143 0.0976 7.3891 0.1353 76.7113 10.3817 0.0130 0.0963 8.0045 0.1249 84.1003 10.5067 0.0119 0.0952 8.6711 0.1153 92.1048 10.6220 0.0109 0.0941 9.3933 0.1065 100.7759 10.7285 0.0099 0.0932 10.1757 0.0983 110.1693 10.8267 0.0091 0.0924 11.0232 0.0907 120.3449 10.9174 0.0083 0.0916

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