Mr. and Mrs. Thomas hope to send their son to college in 11 years. How much money should they invest now at an interest rate of 9% per year, compounded continuously, in order to be able to contribute $9500 to his education? Do not round any intermediate computations, and round your answer to the nearest cent.
Mr. and Mrs. Thomas hope to send their son to college in 11 years. How much money should they invest now at an interest rate of 9% per year, compounded continuously, in order to be able to contribute $9500 to his education? Do not round any intermediate computations, and round your answer to the nearest cent.
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Mr. and Mrs. Thomas hope to send their son to college in 11 years. How much money should they invest now at an interest rate of 9% per year, compounded continuously, in order to be able to contribute $9500 to his education? Do not round any intermediate computations, and round your answer to the nearest cent.
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