solve part a for Continuous Compounding.

(Answer is $13173.00)

please do mention what's the difference of the answer in Annual Compunding Answer $13256.69 and Continuous Compounding.

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? (b) 10221% per year, compounded annually? Ans. (a) $13256.69; (b) $12962.59 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? (b) 10221% per year, compounded annually? Ans. (a) $13256.69; (b) $12962.59