SOLUTION: on the day of a childs birth,a deposit of 25,000 is made in a trust fund that pays 8.75% intrest, compounded continuously . determine the balance in this account on the child's 25t

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Question 372885: on the day of a childs birth,a deposit of 25,000 is made in a trust fund that pays 8.75% intrest, compounded continuously . determine the balance in this account on the child's 25th birthday. how do you solve this
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
B+=+Pe%5E%28rt%29+=+25000e%5E%280.0875%2A25%29+=+25000e%5E2.1875+= 222,822.57