Aries K.

asked • 07/08/24

Compound interest

Mr. and Mrs. Wright hope to send their son to college in twelve years. How much money should they invest now at an interest rate of 9.5% per year, compounded continuously, in order to be able to contribute $7500 to his education? Do not round any intermediate computations, and round your answer to the nearest cent.

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Inactive Tutor answered • 07/08/24

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