SOLUTION: Find the present value of $15,000 due 5 years later at 6.1% compounded continuously. can someone help thanks

Question 201085: Find the present value of $15,000 due 5 years later at 6.1% compounded continuously.
can someone help
thanks

Found 2 solutions by rfer, MathTherapy:
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=Pe^rt
P=15000
r=.061
t=5
e=approx. 2.78
------------------
A=15000(2.78)^(.061)(5)
A=15000(2.78)^.305
A=15000*1.365946
A=$20,489.20
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!

Present Value formula: , where P = present value, A = future value, e = 2.7182818, r = interest rate, and t = time, in years.

=

= =

Therefore, a present value amount of $11,056.85 will yield $15,000 in 5 years, at an interest rate of 6.1%.
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