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
icon
Related questions
Question
Help
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.)
Transcribed Image Text: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.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning