athlete signs a contract that guarantees a ​$14​-million salary 5 yr from now. Assuming that money can be invested at 6.8​% with interest compounded​ continuously, what is the present value of that​ year's salary?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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An athlete signs a contract that guarantees a
​$14​-million salary 5 yr from now. Assuming that money can be invested at
6.8​% with interest compounded​ continuously, what is the present value of that​ year's salary?
 
 
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