Suppose that upper p 0 is invested in a savings account in which interest is compounded continuously at 6.4% per year. that is, the balance p grows at the rate given by the following equation. startfraction dp over dt endfraction equals 0.064p(t) (a) find the function p(t) that satisfies the equation. write it in terms of upper p 0 and 0.064. (b) suppose that $500 is invested. what is the balance after 3 years? (c) when will an investment of $500 double itself?

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)