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how much money has to be invested at 5.1% interest compounded continuously to have 17000 after 14 years
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how much money has to be invested at 5.1% interest compounded continuously to have 17000 after 14 years

User Frison Alexander
by
7.1k points

2 Answers

2 votes

Answer:

Apex: 8324.59

Explanation:

User Will Ness
by
7.0k points
2 votes
A=P*e^(rt)
So,
17000=P*e^(0.051*14)
Therefore, P=17000/(e^(0.051*14))
P=8324.57 approx.

User KQS
by
7.2k points
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