A 25-year-old places a continuous stream of $4,000 per year into a retirement account which has a continuously-compounding interest rate of 1.5%. What will be the value of this continuous stream when this person retires at age 65? Round your answer to the nearest integer.
A 25-year-old places a continuous stream of $4,000 per year into a retirement account which has a continuously-compounding interest rate of 1.5%. What will be the value of this continuous stream when this person retires at age 65? Round your answer to the nearest integer.
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...
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A 25-year-old places a continuous stream of $4,000 per year into a retirement account which has a continuously-compounding interest rate of 1.5%. What will be the value of this continuous stream when this person retires at age 65? Round your answer to the nearest integer.
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