In 17 years, Oscar Oaks is to receive $200,000 under the terms of a trust established by his grandparents. Assuming an interest rate of 5.1%, compounded continuously, what is the present value of Oscar's legacy? The present value of the legacy is $. (Round to the nearest cent as needed.)
In 17 years, Oscar Oaks is to receive $200,000 under the terms of a trust established by his grandparents. Assuming an interest rate of 5.1%, compounded continuously, what is the present value of Oscar's legacy? The present value of the legacy is $. (Round to the nearest cent as needed.)
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
Section11.2: Applications Of Exponential Functions
Problem 27PS
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