Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

I WILL GIVE BRAINLIEST PLEASE ANSWER CORRECTLY Mr. and Mrs. Bailey hope to send their son to college in eleven 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 $7500 to his education? Do not round any intermediate computations, and round your answer to the nearest cent.

Sagot :

Answer:

$2,786.83

Step-by-step explanation:

[tex]p {e}^{.09 \times 11} = 7500[/tex]

[tex]p = \frac{7500}{ {e}^{.09 \times 11} } [/tex]

[tex]p = 2786.83[/tex]

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We hope this was helpful. Please come back whenever you need more information or answers to your queries. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.