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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?
asked
Nov 7, 2023
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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?
Mathematics
college
Ouri
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Ouri
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1
Answer
3
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20000 ÷(1+4,75%)^20
=20000 ÷ 1,0475^20
=7905,86
You have to deposit $790586 today.
DewinDell
answered
Nov 13, 2023
by
DewinDell
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