In 6 years you want to have $10, 000 to buy a car. If you can get an annual interest rate of 4% compounded continuously, how much should you invest now?

Calculus: Early Transcendentals
8th Edition
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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  1. In 6 years you want to have $10, 000 to buy a car. If you can get an annual interest rate of 4% compounded continuously, how much should you invest now?

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Given that , total amount is $10000, time 6 years and rate of interest is 4% compunded continuously.

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