Question: Please do Solve part a for Continuous Compounding the Answer is 13173.00) for Compound annually answer mention below $13256.69. Difference of answers between compund anually

Please do Solve part a for Continuous Compounding the Answer is 13173.00)
for Compound annually answer mention below $13256.69. Difference of answers between compund anually and Continuous Compounding?
Please do Solve part a for Continuous Compounding the Answer is 13173.00)

A new machine is expected to cost $6000 and have a life of 5 years. Maintenance costs will be $1500 the first year, \$1700 the second year, \$1900 the third year, \$2100 the fourth year, and $2300 the fifth year. To pay for the machine, how much should be budgeted and deposited in a fund that earns (a) 9% per year, compounded annually? Ans. (a) $13256.69

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