Step 1 :Given that Jerome will be buying a used car for $8000 in 4 years.
Step 2 :He wants to know how much money he should ask his parents for now so that, if he invests it at an interest rate of 8% compounded continuously, he will have enough to buy the car.
Step 3 :We can calculate the present value using the formula for continuous compounding: \(P = A / e^{rt}\), where \(P\) is the present value, \(A\) is the future value, \(r\) is the interest rate, and \(t\) is the time in years.
Step 4 :Substituting the given values into the formula, we get \(P = 8000 / e^{0.08 \times 4}\).
Step 5 :Calculating the above expression, we find that \(P = 5809.19\).
Step 6 :So, Jerome should ask his parents for \(\boxed{\$5809.19}\).