Suppose that 2100 is set aside each year and invested in a, Business Economics

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Suppose that 2100 is set aside each year and invested in a

Suppose that $2100 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 year 26

b) Suppose that an annuity will be withdrawn from savings that have accumulated at the end of year 26. The annuity will extend from the end of year 27 to the end of year 34. What is the value of this annuity if the interest rate and compounding frequency in part (a) do not change?

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Business Economics: Suppose that 2100 is set aside each year and invested in a

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