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(1 point) A bank account earns 7 percent interest compounded continuously. At what (constant, continuous) rate must a parent deposit money into such an account
(1 point) A bank account earns 7 percent interest compounded continuously. At what (constant, continuous) rate must a parent deposit money into such an account in order to save 100000 dollars in 10 years for a child's college expenses? rate = 555 (dollars/year) If the parent decides instead to deposit a lump sum now in order to attain the goal of 100000 dollars in 10 years, how much must be deposited now? amount = 555 (dollars)
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