Please answer question 5.21

5.21 Repeat Problem 2.32(a) for continuous compounding. Ans. $167 884.49 2.32 Ms. Frank is planning for a 25-year retirement period and wishes to withdraw a portion of her savings at the end of each year. She plans to withdraw $10 000 at the end of the first year, and then to increase the amount of the withdrawal by $1000 each year, to offset inflation. How much money should she have in her savings account at the start of the retirement period, f the bank pays (a) 9%, (b) 72%, per year, compounded annually? Ans.(a) $175 152.28; (b) $205 435.72 5.21 Repeat Problem 2.32(a) for continuous compounding. Ans. $167 884.49 2.32 Ms. Frank is planning for a 25-year retirement period and wishes to withdraw a portion of her savings at the end of each year. She plans to withdraw $10 000 at the end of the first year, and then to increase the amount of the withdrawal by $1000 each year, to offset inflation. How much money should she have in her savings account at the start of the retirement period, f the bank pays (a) 9%, (b) 72%, per year, compounded annually? Ans.(a) $175 152.28; (b) $205 435.72