How much must one invest today in order to receive $20,000 after 5 years if interest is compounded continuously at the rate r = 9%?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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How much must one invest today in order to receive $20,000 after 5 years if interest is compounded continuously at the rate r = 9%?

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