document.write( "Question 80417:
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document.write( "I am require $11,000 in two years to return to college to get an MBA degree. How much money should I ask my father for now so if I invests it at 9% interest compounded continuously, I will have enough for school? Round answer to the nearest dollar amount. \n" );
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Algebra.Com's Answer #57702 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! I am require $11,000 in two years to return to college to get an MBA degree. How much money should I ask my father for now so if I invests it at 9% interest compounded continuously, I will have enough for school? Round answer to the nearest dollar amount. \n" ); document.write( "--------- \n" ); document.write( "A(t)=Pe^(rt) \n" ); document.write( "11000 = Pe^(0.09*2) \n" ); document.write( "P = 11000/e^(0.18) \n" ); document.write( "P = 9187.97 \n" ); document.write( "Rounding: P =$9188 \n" ); document.write( "----------- \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( " |