On the day of a child’s birth, a deposit of $P is made in a trust fund that pays 8.75% interest, compounded continuously. Now we know that the balance in this account on the child’s 25th birthday is $222822.57. Determine the value of P.?

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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On the day of a child’s birth, a deposit of $P is made in a trust fund that pays 8.75%
interest, compounded continuously. Now we know that the balance in this account on the
child’s 25th birthday is $222822.57. Determine the value of P.?

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