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5 . 2 2 Repeat Problem 2 . 3 2 for continuous compounding at 8 4 % . How significant is the % difference vis
Repeat Problem for continuous compounding at How significant is the difference visavis Problem Ans. $ Ms Frank is planning for a year retirement period and wishes to withdraw a portion of her savings at the end of each year. She plans to withdraw $ at the end of the first year, and then to increase the amount of the withdrawal by $ each year, to offset inflation. How much money should she have in her savings account at the start of the retirement period, if the bank pays ab per year, compounded annually? Ans.a $; b $
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