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Suppose someone wants to accumulate ​$120 000 for retirement in 30 years. The person has two...

Suppose someone wants to accumulate ​$120 000 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with annual compounding and an APR of 6​%. Plan B is a single deposit into an account with continuous compounding and an APR of 5.5​%. How much does the person need to deposit in each account in order to reach the​ goal?

The person must deposit ​$ ____ into the account for Plan A to reach the goal of ​$120 000. ​(Round to the nearest cent as​ needed.)

The person must deposit ​$ _____into the account for Plan B to reach the goal of ​$120 000. ​(Round to the nearest cent as​ needed.)

Math   Statistics-And-Probability   
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