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(1) Patricia deposits $5000 in an IRA at 6% interest compounded continuously for her retire ment in 10 years. She intends to make continuous deposits
(1) Patricia deposits $5000 in an IRA at 6% interest compounded continuously for her retire ment in 10 years. She intends to make continuous deposits at the rate of $3000 a year until she retires. How much will she have accumulated at that time. (2) In Exercise 1, how long will it take Patricia to accumulate $30,000 in her retirement account? (3) To provide for a future expansion, a company plans to make continuous deposits to a savings account at the rate of $50,000 per year, with no initial deposit. The managers want to accumulate $500,000. How long Will it take if the account earns 10% interest compounded continuously? QUESTION 1 Find S , the sum of the first n terms of the sequence 18, - 3, - 12 O 108 (1- (-1/6)") 7 O 18(1- (-1/6)") O 108 (1- (-1/6)") 7 O 18(1+ (-1/6)")\fQUESTION 5 The sequence is a geometric sequence 18, - 3, 2 24 True O False QUESTION 6 The sequence is a geometric sequence 18, - 3. 12 O True O False
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