how much money has to be invested at 5.9% interest compounded continuously to have 15,000 after 12 years?
2 answers:
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₇P₅ is a permutation. you can find this setting in the statistics menu of your scientific calculator (i think).
If you don't have a scientific calculator, you can use the following formula:
nPr =
₇P₅ =
=
=
= 7 * 6 * 5 * 4 * 3
= 2520
Answer: C