51. If you need $30,000 in your bank account in 7 years, to the nearest dollar, how much must you deposit now if the interest rate is 9%, compounded monthly? 52. If you need $50, 000 in your bank account in 8 years, to the nearest dollar, how much must you deposit now if the interest rate is 6%, compounded quar- terly? 53. If you need $30, 000 in your bank account in 7 years, to the nearest dollar, how much must you deposit now if the interest rate is 9%, compounded contin- uously?
51. If you need $30,000 in your bank account in 7 years, to the nearest dollar, how much must you deposit now if the interest rate is 9%, compounded monthly? 52. If you need $50, 000 in your bank account in 8 years, to the nearest dollar, how much must you deposit now if the interest rate is 6%, compounded quar- terly? 53. If you need $30, 000 in your bank account in 7 years, to the nearest dollar, how much must you deposit now if the interest rate is 9%, compounded contin- uously?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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