(See Solution) Trust Fund A trust fund is being set up by a single payment so that at the end of 30 years there will be $50,000 in the fund. If interest is compounded
Question: Trust Fund A trust fund is being set up by a single payment so that at the end of 30 years there will be $50,000 in the fund. If interest is compounded continuously at an annual rate of \(6 \%\), how much money should be paid into the fund initially?
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![[Step-by-Step] Find the effective rate that corresponds](/images/solutions/MC-solution-library-52535.jpg "[Step-by-Step] Find the effective rate that corresponds to the")
[Step-by-Step] Find the effective rate that corresponds to the
(Solution Library) Investment Presently, the Smiths have $50,000
![[Solution Library] What annual rate r compounded](/images/solutions/MC-solution-library-52537.jpg "[Solution Library] What annual rate r compounded continuously is")
[Solution Library] What annual rate r compounded continuously is
![[Solution Library] If interest is compounded continuously,](/images/solutions/MC-solution-library-52538.jpg "[Solution Library] If interest is compounded continuously, at")
[Solution Library] If interest is compounded continuously, at
(Solution Library) Investment On November 1,1996, Ms. Rodgers
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