Answered

At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

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]

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.