6. You want to make an investment now in order to have $80,000 in 5 years. The investment guaranties an interest of 7.5% yearly compounded continuously. How much should you invest now. (Round up to the cent.) *

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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6. You want to make an investment now in order to have $80,000 in 5
years. The investment guaranties an interest of 7.5% yearly compounded
continuously. How much should you invest now. (Round up to the cent.)
Transcribed Image Text:6. You want to make an investment now in order to have $80,000 in 5 years. The investment guaranties an interest of 7.5% yearly compounded continuously. How much should you invest now. (Round up to the cent.)
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