How much money needs to be invested now to obtain $4,000 in 9 years if the interest in a savings account is 1.45%, compounded continuously? (Round your answer to the nearest cent.) $
How much money needs to be invested now to obtain $4,000 in 9 years if the interest in a savings account is 1.45%, compounded continuously? (Round your answer to the nearest cent.) $
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 35PT
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Question
4.) How much money needs to be invested now to obtain $4, 000 in 9 years if the interest in a savings account is 1.45%, compounded continuously? (Round your answer to the nearest cent.)
![How much money needs to be invested now to obtain $4,000 in 9 years if the interest in a savings account
is 1.45%, compounded continuously? (Round your answer to the nearest cent.)
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe59ae3b8-fb84-42ee-bca6-dc717c724109%2Fadd23f9c-6cc1-4b5c-8d37-cfe8e6b1f6bf%2F0nsv6ci_processed.jpeg&w=3840&q=75)
Transcribed Image Text:How much money needs to be invested now to obtain $4,000 in 9 years if the interest in a savings account
is 1.45%, compounded continuously? (Round your answer to the nearest cent.)
$
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