Bridget wants to have $17,950 in her account in 10 years. How much money should she deposit in her account if it earns 7.5% interest, compounded continuously? Round to the nearest cent.

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The formula for continuously compounded interest is:
[tex]A=Pe^{rt}[/tex]
[tex]17950=Pe^{0.075\times10}=Pe^{0.75}[/tex]
[tex]P=\frac{17950}{e^{0.75}}=8478.98[/tex]
The answer is $8478.98