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A Math 110 student decides to make semiannual payments of $2,000 into a retirement account paying 8% interest per year compounded continuously. If the student
A Math 110 student decides to make semiannual payments of $2,000 into a retirement account paying 8% interest per year compounded continuously. If the student continues to make these payments for 30 years, compute each of the following values. Account balance after 30 years (exact value) = dollars Account balance after 30 years (rounded to the nearest cent) = dollars Total of all deposits (exact value) = dollars Total of all interest payments (rounded to the nearest cent) = dollars Your math professor has decided to retire and return to his jetsetting life style. He wishes to establish a fund from which he can withdraw $4,000 per month for the next 30 years. If the fund earns 8% per year compounded continuously, how much money does he need now to establish the fund? Exact value = dollars Rounded to the nearest cent = dollars
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