3) Cindy will require $18,000 in 7 years to return to college to get an MBA degree. How much money should she ask her parents for now so that, if she invests it at 3.25% compounded continuously, she will have enough for school? (Round your answer to the nearest dollar.) 4) If Emery has $3250 to invest at 3.75% per year compounded monthly, how long will it be before he has $19500? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)

3) Cindy will require $18,000 in 7 years to return to college to get an MBA degree. How much money should she ask her parents for now so that, if she invests it at 3.25% compounded continuously, she will have enough for school? (Round your answer to the nearest dollar.) 4) If Emery has $3250 to invest at 3.75% per year compounded monthly, how long will it be before he has $19500? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter2: Exponential, Logarithmic, And Trigonometric Functions

Section2.1: Exponential Functions

Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...

See similar textbooks