Problem
1. A man deposited $10,000 in a savings account when his son was born. The nominal interest rate was 8% per year, compounded continuously. On the son's 18th birthday, the accumulated sum is withdrawn from the account. How much will this accumulated amount be?
2. What is the present equivalent of a uniform series of annual payments of $3,500 each for five years if the interest rate, compounded continuously, is 10%?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.