How much money must be invested now at 10% interest compounded continuously so that $120, 000 will be available in 5 years? Round to the nearest cent.

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.CR: Review Problem Set
Problem 56CR
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How much money must be invested now at 10% interest compounded continuously so that $120, 000 will be
available in 5 years? Round to the nearest cent.
Transcribed Image Text:How much money must be invested now at 10% interest compounded continuously so that $120, 000 will be available in 5 years? Round to the nearest cent.
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