document.write( "Question 1155406: Mr. and Mrs. Hall hope to send their daughter to college in thirteen years. How much money should they invest now at an interest rate of 9% per year, compounded continuously, in order to be able to contribute $9500 to her education? \n" ); document.write( "
Algebra.Com's Answer #777976 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! P=Poe^rt \n" ); document.write( "9500=Poe^(.09*5);e^.45=1.5683 (round only at end) \n" ); document.write( "so Po*1.5683=9500 \n" ); document.write( "Po=9500/1.5683=$6057.47, rounding only at the end. \n" ); document.write( " |