To help their son buy a car on his 16th birthday, a boy's parents invest $7500 on his 10th birthday. If the investment pays 8% compounded continuously, how much is available on his 16th birthday? (Round your answer to the nearest cent.)
To help their son buy a car on his 16th birthday, a boy's parents invest $7500 on his 10th birthday. If the investment pays 8% compounded continuously, how much is available on his 16th birthday? (Round your answer to the nearest cent.)
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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To help their son buy a car on his 16th birthday, a boy's parents invest $7500 on his 10th birthday. If the investment pays 8%
compounded continuously, how much is available on his 16th birthday? (Round your answer to the nearest cent.)
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