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(1 point) A continuous annuity with withdrawal rate N = $1,200/year and interest rate r = 4% is funded by an initial deposit Po.

(1 point) A continuous annuity with withdrawal rate N = $1,200/year and interest rate r = 4% is funded by an initial deposit Po. (a) When will the annuity run out of funds if Po = $26,000? The annuity runs out after approximately Answer to the nearest whole year. (b) Which initial deposit Po yields a constant balance? Po = $ years.

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