Question: Could someone please show me a step by step into solving these problems? 1. Richard deposits $2000 in an IRA at 10% interest compounded continuously

Could someone please show me a step by step into solving these problems?

Could someone please show me a step by step into solving these

1. Richard deposits $2000 in an IRA at 10% interest compounded continuously for his retirement in 25 years. He intends to make continuous deposits at the rate of $2500 a year. How much will he have accumulated in 18 years? Round your answer to the nearest dollar O A. $145,340 B. $138,340 O C. $151,340 O D. $140,340 2. Sally plans to make continuous deposits to a savings account. She wants to accumulate $30,000 irn 8 years. If the account earns 9% interest compounded continuously and she makes no initial deposit. what yearly deposit will be required? Round your answer to the nearest dollar O A. $2761 O B. $2961 O C. $2461 D. $2561 1. Richard deposits $2000 in an IRA at 10% interest compounded continuously for his retirement in 25 years. He intends to make continuous deposits at the rate of $2500 a year. How much will he have accumulated in 18 years? Round your answer to the nearest dollar O A. $145,340 B. $138,340 O C. $151,340 O D. $140,340 2. Sally plans to make continuous deposits to a savings account. She wants to accumulate $30,000 irn 8 years. If the account earns 9% interest compounded continuously and she makes no initial deposit. what yearly deposit will be required? Round your answer to the nearest dollar O A. $2761 O B. $2961 O C. $2461 D. $2561

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!