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

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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(10432) About Me  (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(639) About Me  (Show Source):
You can put this solution on YOUR website!

Present Value formula: P+=+A%2F%28e%5Ert%29, where P = present value, A = future value, e = 2.7182818, r = interest rate, and t = time, in years.


P+=+A%2F%28e%5Ert%29 = P=15000%2F%282.7182818%5E%28%28.061%2A5%29%29%29

P=15000%2F%282.7182818%5E%28.305%29%29 = P=15000%2F1.356625 = highlight%28P=11056.85%29

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