For this, we have to calculate how much money has to be invested at 2.3% interest compounded continuously to achieve $41,000 after 17 years
Formula: A= P * ( 1+r)^t
A= $41,000
r=0.023
t= 17
<span>41,000= P * (1+0.023)^17
</span>41,000= P * (1.023)^17
41,000= P * 1.4719
P= 41,000 : 1.4719
P= $27,731.59
Therefore, the answer is C. $27,731.59
I checked by doing the opposite, and I got $41,000.01, which is the closest to the question<span>
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Eliminate A immediately, because "367,259 < 364,798" is false.
Elim. C because "367,313 < 367,259" is false.
Thus, B is the correct answer.
It is a down shift of 3.
Also written as (x, y-3)