Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that 52,600 is set aside each year and invested in a savings account that pays 3% interest per year, compounded continuously. a. Determine the accumulated savings in this account at the end of 27 years; b. In Part (a)1 suppose that an annuity will be withdrawn from savings that have been accumulated at the EOY 27. The annuity will extend from the EOY 2a to the EOY 34. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change? 5 Click the icon to View the interest and annuity table for continuous compounding when r'= 8% per year. (:1 a. The accumulated savings amount at the end at 2? years will be $ 1 {Round to the nearest dollar.) 1.7507 0.5712 9.0131 5.1483 0.1109 0.1942 1.8965 0.5273 10.7637 5.6756 0.0929 0.1762 2.0544 0.4868 12.6602 6.1624 0.0790 0.1623 10 2.2255 0.4493 14.7147 6.6117 0.0680 0.1512 11 2.4109 0.4148 16.9402 7.0265 0.0590 0.1423 12 2.6117 0.3829 19.3511 7.4094 0.0517 0.1350 13 2.8292 0.3535 21.9628 7.7629 0.0455 0.1288 14 3.0649 0.3263 24.7920 8.0891 0.0403 0.1236 15 3.3201 0.3012 27.8569 8.3903 0.0359 0.1192 16 3.5966 0.2780 31.1770 8.6684 0.0321 0.1154 17 3.8962 0.2567 34.7736 8.9250 0.0288 0.1120 18 4.2207 0.2369 38.6698 9.1620 0.0259 0.1091 19 4.5722 0.2187 42.8905 9.3807 0.0233 0.1066 20 4.9530 0.2019 47.4627 9.5826 0.0211 0.1044 21 5.3656 0.1864 52.4158 9.7689 0.0191 0.1024 22 5.8124 0.1720 57.7813 9.9410 0.0173 0.1006 23 6.2965 0.1588 63.5938 10.0998 0.0157 0.0990 24 6.8210 0.1466 69.8903 10.2464 0.0143 0.0976 25 7.3891 0.1353 76.7113 10.3817 0.0130 0.0963 26 8.0045 0.1249 84.1003 10.5067 0.0119 0.0952 27 8.6711 0.1153 92.1048 10.6220 0.0109 0.0941 28 9.3933 0.1065 100.7759 10.7285 0.0099 0.0932 29 10.1757 0.0983 110.1693 10.8267 0.0091 0.0924 30 11.0232 0.0907 120.3449 10.9174 0.0083 0.0916Continuous Compounding; /=8% Single Payment Uniform Series Compound Compound Capital Amount Present Amount Present Sinking Fund Recovery Factor Worth Factor Factor Worth Factor Factor Factor To Find F To Find P To Find F To Find P To Find A To Find A Given P Given F Given A Given A Given F Given P N F/P P/F F/A P/A A/F A/P 1.0833 0.9231 1.0000 0.9231 1.0000 1.0833 1.1735 0.8521 2.0833 1.7753 0.4800 0.5633 1.2712 0.7866 3.2568 2.5619 0.3071 0.3903 1.3771 0.7261 4.5280 3.2880 0.2208 0.3041 1.4918 0.6703 5.9052 3.9584 0.1693 0.2526 1.6161 0.6188 7.3970 4.5771 0.1352 0.2185 1.7507 0.5712 9.0131 5.1483 0.1109 0.1942 1.8965 0.5273 10.7637 5.6756 0.0929 0.1762 2.0544 0.4868 12.6602 6.1624 0.0790 0.1623 10 2.2255 0.4493 14.7147 6.6117 0.0680 0.1512 11 2.4109 0.4148 16.9402 7.0265 0.0590 0.1423 12 2.6117 0.3829 19.3511 7.4094 0.0517 0.1350 13 2.8292 0.3535 21.9628 7.7629 0.0455 0.1288 14 3.0649 0.3263 24.7920 8.0891 0.0403 0.1236 15 3.3201 0.3012 27.8569 8.3903 0.0359 0.1192 16 3.5966 0.2780 31.1770 8.6684 0.0321 0.1154