On the day of a child's birth, a parent deposits $35,000 in a trust fund that pays 4% interest, compounded continuously. Determine the balance in this account on the child's 26th birthday. (Round your answer to two decimal places.)

Question

04-03-2022
Mathematics

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On the day of a child's birth, a parent deposits $35,000 in a trust fund that pays 4% interest, compounded continuously. Determine the balance in this account on the child's 26th birthday. (Round your answer to two decimal places.)

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