cardenasnayely
cardenasnayely cardenasnayely
  • 04-06-2017
  • Mathematics
contestada

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

Respuesta :

Aliwohaish12
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
Answer Link
gpheffernan gpheffernan
  • 02-07-2019

7389.43

Step-by-step explanation:

Answer Link

Otras preguntas

solve the equation for s. 7 = 1/6s + 11
How to say 6.324 in word form
which states were fashioned in their entirety from these territories
Name the property of equality that justifies this statement if RS=ST and ST=TU then RS=TU Thanks
Use an algebraic equation to find the measures of two angles described below . Begin by letting x represent the degree measure of the angles supplement . The me
(4y a - 6x b )(4y a + 6x b )
one day paul ran at a rate of 0.15 mile per minute for 40 minutes. the next day paul and Jen ran together at a rate of 0.16 mile per minute to 50 minutes. how f
Can anyone help me with this equation?
finding the median 7, 25, 3, 6,7
What is a theme that would be relevant in literature across an extended time period in history, regardless of what time period it is being used in?