Mr. and Mrs. Kelly hope to send their daughter to college in eleven years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $8000 to her education? Do not round any intermediate computations, and round your answer to the nearest cent.

Mr. and Mrs. Kelly hope to send their daughter to college in eleven years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $8000 to her education? Do not round any intermediate computations, and round your answer to the nearest cent.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...

See similar textbooks