Question

Stacey and her husband david have a joint savings account that earns 3.5% interest payable continuously and has a current balance of $58,458 . each year, david wishes to withdraw $4,000 payable continuously at a level rate. stacey wishes to deposit x at the beginning of each year (for thirty years) so that the account will last for thirty years. what is the least x that will work? (round your answer to the nearest cent.)

Answer 1

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