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Eric wants to buy a bond that will mature to$6000in seven years. How much should he pay for the bond now if it earnsinterestat a

Eric wants to buy a bond that will mature to$6000in seven years. How much should he pay for the bond now if it earnsinterestat a rate of3%per year, compoundedcontinuously?

Do not round any intermediate computations, and round your answer to the nearest cent.

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