A wedding photographer has been saving money to use for travel during retirement. The photographer plans to invest in a continuously compounded savings account with an annual interest rate of 4.3%. If the photographer wants to have a total account balance of $40,000 after 20 years, what principal amount must initially be invested? $23,073.52 $26,020.36 $13,979.64 $16,926.48

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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A wedding photographer has been saving money to use for travel during retirement. The photographer plans to invest in a continuously compounded savings account with an annual interest rate of 4.3%. If the photographer wants to have a total account balance of $40,000 after 20 years, what principal amount must initially be invested? $23,073.52

$26,020.36

$13,979.64

$16,926.48

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