On the day of a child’s birth, a deposit of $P is made in a trust fund that pays 8.75% interest, compounded continuously. Now we know that the balance in this account on the child’s 25th birthday is $222822.57. Determine the value of P.?
On the day of a child’s birth, a deposit of $P is made in a trust fund that pays 8.75% interest, compounded continuously. Now we know that the balance in this account on the child’s 25th birthday is $222822.57. Determine the value of P.?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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On the day of a child’s birth, a deposit of $P is made in a trust fund that pays 8.75%
interest, compounded continuously. Now we know that the balance in this account on the
child’s 25th birthday is $222822.57. Determine the value of P.?
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