A constant continuous income stream of C dollars will be invested into an account for ten years at a continuous annual interest rate of 7%. The goal is to have $100,000 to help pay for college at the end of the ten years. Find the value of C that will produce a balance of $100,000 at the end of the ten years. Enter your value for C accurate to two digits to the right of the decimal point.
A constant continuous income stream of C dollars will be invested into an account for ten years at a continuous annual interest rate of 7%. The goal is to have $100,000 to help pay for college at the end of the ten years. Find the value of C that will produce a balance of $100,000 at the end of the ten years. Enter your value for C accurate to two digits to the right of the decimal point.
Chapter5: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 37CT: On the day a grandchild is born, a grandparent deposits $2500 in a fund earning 7.5% interest,...
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