How much would you have to deposit today to have an accumulated amount of $20,000 in 20 years if yearly interest is 4.75% compounded continuously?

asked Oct 15, 2022 234k views

2 votes

How much would you have to

deposit today to have an
accumulated amount of
$20,000 in 20 years if yearly
interest is 4.75% compounded
continuously?

4.8k points

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4 votes

Because the account is compounded continuously, Euler number is required

e = 2.7182818

JLCH answered Oct 19, 2022

by JLCH

4.5k points

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