A Trust Fund Is to Be Set Up by a Single

question 91

Short Answer

A trust fund is to be set up by a single payment so that at the end of 10 years there will be $1,000,000 in the fund.If interest is compounded continuously at an annual rate of 9%,to the nearest dollar,how much money should be paid into the fund initially?

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Definitions:

Input Production

The process of using resources (inputs) to create goods or services.

Substitutes Consumption

Refers to the consumption of goods that can replace each other in use, affecting the demand for these goods.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

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Devices that plug into a television's HDMI port to enable streaming content from mobile devices or computers to the TV screen.