Sally plans to make continuous deposits to a savings account. She wants to accumulate $40,000 in 10 years. If the account earns​ 9% interest compounded continuously and she makes no initial​ deposit, what yearly deposit will be​ required? Round your answer to the nearest dollar.

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Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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Calculus

3) Sally plans to make continuous deposits to a savings account. She wants to accumulate

$40,000 in 10 years. If the account earns​ 9% interest compounded continuously and she makes no initial​ deposit, what yearly deposit will be​ required? Round your answer to the nearest dollar.

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