How much money must be deposited today to become $2500 in 30 years at 6.5% compounded continuously? The deposit must be $ (Round to the nearest cent as needed.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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How much money must be deposited today to become $2500 in 30 years at 6.5%
compounded continuously?
The deposit must be $
(Round to the nearest cent as needed.)
Transcribed Image Text:How much money must be deposited today to become $2500 in 30 years at 6.5% compounded continuously? The deposit must be $ (Round to the nearest cent as needed.)
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