Bart wishes to tour the country with his friends. Todo
Chapter , Problem 3-57(choose chapter or problem)
Bart wishes to tour the country with his friends. Todo this, he is saving money for a bus.(a)How much money must Bart deposit in a savingsaccountpaying8%nominalannualinterest,com-pounded continuously, in order to have $8000 in41/2years?(b)A friend offers to repay Bart $8000 in 41/2yearsif Bart gives him $5000 now. Assuming contin-uous compounding, what is the nominal annualinterest rate of this offer?
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