Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Join our Q&A platform and get accurate answers to all your questions from professionals across multiple disciplines. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

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]

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.