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P-2 a) An investment triples in 15 years using continuous compounding. Find the interest rate k (25 pts) accurate to 4 decimal places. (Use the
P-2 a) An investment triples in 15 years using continuous compounding. Find the interest rate k (25 pts) accurate to 4 decimal places. (Use the formula rt= 3) b) A professional athlete signs a 4 year contract worth $8,000,000. Assume that money can be invested at the exisisting rate at 6.8% with interest compounded continuously. Write the model that will determine the present value of the contract. AND find the present value of the contract amount with 2 dec place accuracy
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