Following the birth of a child, a parent wants to make an initial investment Po that will grow to $70,000 for the child's education at age 18. Interest is compounded continuously at 5%. What should the initial investment be? Such an amount is called the present value of $70,000 due 18 years from now. CECECE The present value is about $ (Do not round until the final answer. Then round to two decimal places as needed.).
Following the birth of a child, a parent wants to make an initial investment Po that will grow to $70,000 for the child's education at age 18. Interest is compounded continuously at 5%. What should the initial investment be? Such an amount is called the present value of $70,000 due 18 years from now. CECECE The present value is about $ (Do not round until the final answer. Then round to two decimal places as needed.).
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
ChapterCSR: Contents Of Student Resources
Section: Chapter Questions
Problem 7.36EP
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![Following the birth of a child, a parent wants to make an initial investment Po that will grow to $70,000 for the child's education at age 18. Interest is compounded continuously at 5%.
What should the initial investment be? Such an amount is called the present value of $70,000 due 18 years from now.
The present value is about $
(Do not round until the final answer. Then round to two decimal places as needed.).
4
99°F
Type here to search
O
Et
C
$
E
O & ED](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F006a35a3-e559-4cc9-aa53-746bb30a70e8%2F84e5490e-3486-494c-92a9-e2ce7317e0da%2Fcxl6iq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Following the birth of a child, a parent wants to make an initial investment Po that will grow to $70,000 for the child's education at age 18. Interest is compounded continuously at 5%.
What should the initial investment be? Such an amount is called the present value of $70,000 due 18 years from now.
The present value is about $
(Do not round until the final answer. Then round to two decimal places as needed.).
4
99°F
Type here to search
O
Et
C
$
E
O & ED
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