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Please solve these problems Aiso deposits $170/month in a savings account paying 9%/year compounded continuously. Estimate the amount that will be in his account after
Please solve these problems
Aiso deposits $170/month in a savings account paying 9%/year compounded continuously. Estimate the amount that will be in his account after 15 years. (Round your answer to the nearest whole number.) The Armstrongs wish to establish a custodial account to finance their children's education. If they deposit $160 monthly for 10 years in a savings account paying 3%/year compounded continuously, how much will their savings account be worth at the end of this period? (Round your answer to the nearest whole number.) A state lottery commission pays the winner of the "Million Dollar" lottery 20 annual installments of $50,000 each. If the prevailing interest rate is 7%/year compounded continuously, find the present value of the winning ticket. (Round your answer to two decimal places.)Step by Step Solution
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