The present value of a sum of money is the amount that must be invested now, at a giv rate of interest, to produce the desired sum at a later date. Find the present value of $5,000 if inter is paid at a rate of 3% per year, compounded continuously, for 4 years. (Round your answer uf the next cent use the compound interest formulas
The present value of a sum of money is the amount that must be invested now, at a giv rate of interest, to produce the desired sum at a later date. Find the present value of $5,000 if inter is paid at a rate of 3% per year, compounded continuously, for 4 years. (Round your answer uf the next cent use the compound interest formulas
Chapter5: Exponential And Logarithmic Functions
Section5.1: Exponential Functions And Their Graphs
Problem 57E: Trust Fund On the day of a child’s birth, a parent deposits $30,000 in a trust fund that pays 5...
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The present value of a sum of money is the amount that must be invested now, at a giv rate of interest, to produce the desired sum at a later date. Find the present value of $5,000 if inter is paid at a rate of 3% per year, compounded continuously, for 4 years. (Round your answer uf the next cent
use the compound interest formulas
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