In five years a company will purchase equipment costing $100 000. The comnpany decides to place a single deposit into a savings account now so that its future value will egual the cost of the equipment. If the account earns Interest at an annual rate of 10% compounded continuously, determine the deposit to the nearest dollar $60,166 $60,653 $61,143 $60,065 $59,472 Boş bırak

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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in five years a company will purchase equipment costing $100,000. The company decides to
place a single deposit into a savings account now so that its future value will equal the cost
of the equipment. If the account earns interest at an annual rate of 10% compounded
continuously, determine the deposit to the nearest dollar.
$60,166
$60,653
1 $61,143
d)O $60,065
e)O $59,472
Boş bırak
Transcribed Image Text:in five years a company will purchase equipment costing $100,000. The company decides to place a single deposit into a savings account now so that its future value will equal the cost of the equipment. If the account earns interest at an annual rate of 10% compounded continuously, determine the deposit to the nearest dollar. $60,166 $60,653 1 $61,143 d)O $60,065 e)O $59,472 Boş bırak
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