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5 . 2 1 Repeat Problem 2 . 3 2 ( a ) for continuous compounding. Ans. $ 1 6 7 8 8 4 .

5.21 Repeat Problem 2.32(a) for continuous compounding. Ans. $167884.492.32 Ms. Frank is planning for a 25-year retirement period and wishes to withdraw a portion of her savings at the end of each year. She plans to withdraw $10000 at the end of the first year, and then to increase the amount of the withdrawal by $1000 each year, to offset inflation. How much money should she have in her savings account at the start of the retirement period, f the bank pays (a)9%,(b)72%, per year, compounded annually? Ans.(a) $175152.28; (b) $205435.72

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