Question

how much money has to be invested at 5.9% interest compounded continuously to have 15,000 after 12 years?

Answer 1

`\bf \qquad \textit{Continuously Compounded Interest Earned Amount}\\\\ A=Pe^(rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &\$15000\\ P=\textit{original amount}\\ r=rate\to 5.9\%\to (5.9)/(100)\to &0.059\\ t=years\to &12 \end{cases} \\\\\\ 15000=Pe^(0.059\cdot 12)`

solve for P