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How much should be invested now at an interest rate of 7% per year, compounded continuously, to have $3500 in five years?

How much should be invested now at an interest rate of 7% per year, compounded continuously, to have $3500 in five years?
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3 votes
How much should be invested now at an interest rate of 7% per year, compounded continuously, to have $3500 in five years?

User Richard Shepherd
by
8.6k points

1 Answer

3 votes

Answer:

£2,618.18

Explanation:

3500 x 0.93^5

User Jungle Hunter
by
8.0k points
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