Question: A continuous annuity with withdrawal rate N = $ 8 0 0 / year and interest rate r = 5 % is funded by an

A continuous annuity with withdrawal rate N=$800/year and interest rate r=5% is funded by an initial deposit P0.
(a) When will the annuity run out of funds if P0=$13,000?
The annuity runs out after approximately years.
Answer to the nearest whole year.
(b) Which initial deposit P0 yields a constant balance? P0=$
 A continuous annuity with withdrawal rate N=$800/year and interest rate r=5%

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