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Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $300...

Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $300 is set aside each month and invested in a savings account that pays 18% interest per year, compounded continuously. a. Determine the accumulated savings in this account at the end of 30 years. b. In Part (a), suppose that an annuity will be withdrawn from savings that have been accumulated at the EOY 30. The annuity will extend from the EOY 31 to the EOY 40. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change?draw the cash flow diagram.

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