Question: 8. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources - Applications of Definite Integrals Course Packet on income streams and annuities Suppose you plan
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8. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources - Applications of Definite Integrals Course Packet on income streams and annuities Suppose you plan to have $90,000 in 25 years from now and you can invest your savings at 4% compounded continuously. Assuming you can save the same amount of money each year, how much do you need to save on a yearly basis in order to achieve your goal? Hint: Treat your savings as an income stream. Yearly savings (exact value) = dollars Yearly savings (rounded to the nearest cent) = dollars 9. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources - Applications of Definite Integrals Course Packet on Income streams and annuities A Math 110 student decides to make quarterly payments of $2,500 into a retirement account paying 6% Interest per year compounded continuously. If the student continues to make these payments for 50 years, compute each of the following values, Account balance after 50 years (exact value) = dollars Account balance after 50 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
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