You plan to prepare for retirement by making monthly contributions $1,500 to a savings account that pays 10% interest per year, compounded continuously. 4. Determine the accumulated savings in this...

Extracted text: You plan to prepare for retirement by making monthly contributions $1,500 to a savings account that pays 10% interest per year, compounded continuously. 4. Determine the accumulated savings in this account after 30-year (360-month) investment. The accumulated savings in Part (a) will be used to provide a monthly annuity for the next 10 years after 30-year investment. What is the amount of the annuity if the interest rate and compounding frequency do not change? (a) (b)