Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Do not round-off anything until you obtain the final answer.
Allen has an odd job working as a breath odor evaluator. His job is smelling nasty breath that usually contains strong odors like coffee or garlic. His work
assists companies that sell products such as gum and mouthwash. Allen wants to figure out how much money he would need to invest in order to have
$118,000 in 8 years. Determine the amount of money he needs to invest if the interest is compounded continuously at a rate of 4.1%. Round your answer to
the nearest dollar.
Little Facts: Breath odor evaluators are typically employed by food or chemical companies. The job consists of evaluating breath odor before and after
someone tests an odor reducing product. The breath is rated on a scale of 1 to 9, with 1 being the worst rating. Sources: www.careersearch.com3B
www.careerbuilder.com
$ Number](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c71f32a-653b-418e-8689-e2051755bb64%2Fbf81620c-49b7-436f-90b1-353bdb8cc9c7%2Fbmvihyb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Do not round-off anything until you obtain the final answer.
Allen has an odd job working as a breath odor evaluator. His job is smelling nasty breath that usually contains strong odors like coffee or garlic. His work
assists companies that sell products such as gum and mouthwash. Allen wants to figure out how much money he would need to invest in order to have
$118,000 in 8 years. Determine the amount of money he needs to invest if the interest is compounded continuously at a rate of 4.1%. Round your answer to
the nearest dollar.
Little Facts: Breath odor evaluators are typically employed by food or chemical companies. The job consists of evaluating breath odor before and after
someone tests an odor reducing product. The breath is rated on a scale of 1 to 9, with 1 being the worst rating. Sources: www.careersearch.com3B
www.careerbuilder.com
$ Number
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