Kevin wants to buy a bond that will mature to $4500 in nine years. How much should he pay for the bond now if it earns interest at a rate of 3% per year, compounded continuously? Do not round any intermediate computations, and round your answer to the nearest cent. $0 X S
Kevin wants to buy a bond that will mature to $4500 in nine years. How much should he pay for the bond now if it earns interest at a rate of 3% per year, compounded continuously? Do not round any intermediate computations, and round your answer to the nearest cent. $0 X S
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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