(Solved): For the past 15 years, an employee of a large corporation has been investing in an employee sponso ...

For the past 15 years, an employee of a large corporation has been investing in an employee sponsored educational savings plan. The employee has invested \( \$ 8,000 \) dollars per year. Treat the investment as a continuous stream with interest paid at a rate of \( 4.2 \% \) compounded continuously. (a) What is the present value of the investment? (Round your answer to the nearest cent.) \( \$ \) (b) How much money would have had to be invested 15 years ago and compounded at \( 4.2 \% \) compounded continuously to qrow to the amount found in part (a)? (Round your answer to the nearest cent.) \( \$ \)