4-90. You invest 10% of your income into a savings product by paying annual deposits into the account, which earn an interest at the rate of 10% per year, but cannot be withdrawn. At the time of retirement, the savings product converts into a checking account paying 3% interest, but with no restrictions on with- drawals from the account. You expect your income to increase by 2% every year. Assume you start saving in this product at the age of 25, when your annual income is $40,000. How much money will you have in the account when you retire at 652 (4.12) 4-120. What is the future value of a series of 15 quar- terly payments of $400 each if the interest rate is 12% per annum compounded continuously? (4.16) time. HO 23 years? (4.6) st diesel engine will hav a guaranteed residual value of $1,000 in (year 0) the equivalent worth of this en if the interest rate is 9% per year? (4.6) 4-12. A 12-cylinder heavy-duty diesel en in 5 years. T engine is how much rth o herited $12,000. While you plan