n 17 years, Anthony Beechwood is to receive $100,000 under the terms of a trust established by his grandparents. Assuming an interest rate of 5.5%, compounded continuously, what is the present value of Anthony's legacy?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
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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In 17 years, Anthony Beechwood is to receive $100,000 under the terms of a trust established by his grandparents.
Assuming an interest rate of 5.5%, compounded continuously, what is the present value of Anthony's legacy?
The present value of the legacy is $
(Round to the nearest cent as needed.)
0.
Transcribed Image Text:In 17 years, Anthony Beechwood is to receive $100,000 under the terms of a trust established by his grandparents. Assuming an interest rate of 5.5%, compounded continuously, what is the present value of Anthony's legacy? The present value of the legacy is $ (Round to the nearest cent as needed.) 0.
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