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

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04-06-2017
Mathematics

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

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Aliwohaish12 Aliwohaish12 · Answer 1 · 2017-06-04T21:59:44+02:00

Aliwohaish12 Aliwohaish12

04-06-2017

Hi there

The formula is
A=pe^rt
We need to solve for p where
A future value 15000
P present value?
E constant
R interest rate 0.059
T time 12 years
So when you solve for p you get
P=A÷e^rt
P=15,000÷e^(0.059×12)
P=7,389.43

Hope it helps

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gpheffernan gpheffernan · Answer 2 · 2019-07-02T01:13:50+02:00

gpheffernan gpheffernan

02-07-2019

7389.43

Step-by-step explanation:

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