In 19 years, Anthony Oaks is to receive $300,000 under the terms of a trust established by his grandparents. Assuming an interest rate of 5.6%, compounded continuously, what is the present value of Anthony's legacy?
In 19 years, Anthony Oaks is to receive $300,000 under the terms of a trust established by his grandparents. Assuming an interest rate of 5.6%, compounded continuously, what is the present value of Anthony's legacy?
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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