Upon graduating from college, Sergei has no money. However, during each year after that he will deposit

Question:

Upon graduating from college, Sergei has no money. However, during each year after that he will deposit d = $ 1,000 into an account that pays interest at a rate of 8% compounded continuously.
(a) Find the A (t) of Sergei's account.
(b) Find the value for an annual deposit d that would pro duce a balance of one million dollars when he retires 40 years later.
(c) lf d = $2.500 what should be the value of the interest rate r in order for Sergei"s ba1ance to be one million dollars after 40 years?
Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...