Find the present value of $2000 payable at the end of 3 years, if money may be invested at 4% with interest compounded continuously. The present value of $2000 is $ (Round to the nearest cent as needed.)

Calculus: Early Transcendentals
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ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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(14) Please show your substitutions into the correct formula

**Present Value Calculation with Continuous Compounding**

**Problem Statement:**

Find the present value of $2000 payable at the end of 3 years, if money may be invested at 4% with interest compounded continuously.

**Solution:**

The present value of $2000 is $_____. (Round to the nearest cent as needed.)
Transcribed Image Text:**Present Value Calculation with Continuous Compounding** **Problem Statement:** Find the present value of $2000 payable at the end of 3 years, if money may be invested at 4% with interest compounded continuously. **Solution:** The present value of $2000 is $_____. (Round to the nearest cent as needed.)
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