Following the birth of a child, a parent wants to make an initial investment P0 that will

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Following the birth of a child, a parent wants to make an initial investment P0 that will grow to $50,000 for the child's education at age 18. Interest is compounded continuously at 7%. What should the initial investment be? Such an amount is called the present value of $50,000 due 18 years from now.
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College Algebra Graphs and Models

ISBN: 978-0321845405

5th edition

Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna

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