Math Problem Statement
Find the present value of the deposit. $47 comma 000 at 7.6% compounded continuously for 8 years Question content area bottom Part 1 The present value is $ enter your response here. (Round to the appropriate cent.)
Solution
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Math Problem Analysis
Mathematical Concepts
Exponential Functions
Continuous Compounding
Present Value
Formulas
PV = A / e^(rt)
Theorems
Exponential Growth and Decay Theorem
Suitable Grade Level
Grades 10-12
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