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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?

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?
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?

User Chollier
by
9.2k points

1 Answer

4 votes

Because the account is compounded continuously, Euler number is required

e = 2.7182818

How much would you have to deposit today to have an accumulated amount of $20,000 in-example-1
User JLCH
by
8.1k points
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