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Mr. and Mrs. Roberts hope to send their son to college in fourteen years. How much money should they invest now at aninterestrate of9.5%per year,

Mr. and Mrs. Roberts hope to send their son to college in fourteen years. How much money should they invest now at aninterestrate of9.5%per year, compoundedcontinuously, in order to be able to contribute$8000to his education?

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

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