(a) Jessica deposits $8000 in an IRA that pays 5% interest compounded continuously. She intends to...

 

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(a) Jessica deposits $8000 in an IRA that pays 5% interest compounded continuously. She intends to make continuous deposits at a rate of $3000 per year. How much will she have accumulated in 8 years? How long will it take to accumulate $10,000 in the account? (b) Jessica deposits $8000 in an IRA at 5% interest compounded continuously. She intends to make continuous withdraws at a rate of $2000 per year. How much will she have accumulated in 4 years? When will the account be completely depleted? (c) Joe makes an initial deposit of $40,000 into a saving account that pays 5% interest compounded continuously. If he wants to accumulate $400,000 in the account in 10 years, how much continuous yearly deposit he needs to make? (a) Jessica deposits $8000 in an IRA that pays 5% interest compounded continuously. She intends to make continuous deposits at a rate of $3000 per year. How much will she have accumulated in 8 years? How long will it take to accumulate $10,000 in the account? (b) Jessica deposits $8000 in an IRA at 5% interest compounded continuously. She intends to make continuous withdraws at a rate of $2000 per year. How much will she have accumulated in 4 years? When will the account be completely depleted? (c) Joe makes an initial deposit of $40,000 into a saving account that pays 5% interest compounded continuously. If he wants to accumulate $400,000 in the account in 10 years, how much continuous yearly deposit he needs to make?