EXPONENTIAL AND LOGARITHMIC FUNCTIONS Max Finding the initial amount in a word problem on continuous compou... Esp Mr. and Mrs. Kelly hope to send their son to college in eleven years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $9000 to his education? Do not round any intermediate computations, and round your answer to the nearest cent. ?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter5: Exponential And Logarithmic Functions
Section5.4: Exponential And Logarithmic Equations
Problem 97E
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EXPONENTIAL AND LOGARITHMIC FUNCTIONS
Max
Finding the initial amount in a word problem on continuous compou...
Esp
Mr. and Mrs. Kelly hope to send their son to college in eleven years. How much money should they invest now at an interest
rate of 8% per year, compounded continuously, in order to be able to contribute $9000 to his education?
Do not round any intermediate computations, and round your answer to the nearest cent.
?
Transcribed Image Text:EXPONENTIAL AND LOGARITHMIC FUNCTIONS Max Finding the initial amount in a word problem on continuous compou... Esp Mr. and Mrs. Kelly hope to send their son to college in eleven years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $9000 to his education? Do not round any intermediate computations, and round your answer to the nearest cent. ?
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