The proprietor of Carson Hardware Store has decided to set up a sinking fund for the purpose of purchasing a computer 3 yr from now. It is expected that the purchase will involve a sum of $30,000. The fund grows at the rate of
?
?
where A denotes the size of the fund at any time t, r is the annual interest rate earned by the fund compounded continuously, and P is the amount (in dollars) paid into the fund by the proprietor per year (assume this is done on a frequent basis in small deposits over the year so that it is essentially continuous). If the fund earns 8% interest per year compounded continuously, determine the size of the yearly investment the proprietor should pay into the fund.
?
Round the answer to the nearest dollar.
?
$__________
Fill in the blank(s) with the appropriate word(s).
8,848
You might also like to view...
For the following amicable pair, determine whether neither, one, or both of the members are happy, and whether the pair is a happy amicable pair.66,928 and 66,992
A. one; happy B. both; happy C. one; not happy D. neither; not happy
Indicate whether the inequality is true or false.-5 ? -6
A. True B. False
Find two paths of approach from which one can conclude that the function has no limit as (x, y) approaches (0, 0).f(x, y) =
What will be an ideal response?
Graph the system of inequalities.4x - y ? 8x + 2y ? 6
A.
B.
C.
D.