You want to invest money for your childs education in a certificate of deposit (CD). You want

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You want to invest money for your child’s education in a certificate of deposit (CD). You want it to be worth $12,000 in 10 years. How much should you invest if the CD pays interest at a 9% annual rate compounded

(a) Annually?

(b) Continuously?

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 08, 2023 08:04 AM

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You want to invest money for your childs education in a certificate of deposit (CD). You want

Question:

Step by Step Answer:

a If the CD pays 9 interest over a 10year period then r 009 and t 1...View the full answer

Applied Calculus

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