SOLUTION: Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.

SOLUTION: Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.

Algebra.Com

Question 822817: Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Assuming 365 days a year, we can say

8 yrs + 145 days = 8+145/365 = 8.39726 yrs (roughly)

So you need to invest $108,154.51 to Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.
RELATED QUESTIONS
Achieve $225,500 at 8.85% compounded continuously for 8 years, 135 days. (answered by solver91311)

Good day, please help me solve this below. I am confused on the "continously" part.... (answered by Alan3354)

#1.$480 at 10% compounded quarterly for 5 years #2. $800 at 2% compounded... (answered by midwood_trail)

What is the total amount for an investment of $100 invested at 3.5% for 8 years and... (answered by jim_thompson5910,ewatrrr)

Find the balance if $12000 is invested at an annual rate of 8% for ten years, compounded... (answered by stanbon)

At an annual rate of 8% compounded continuously, in how many years would it take for a... (answered by ewatrrr)

Find the amount of money accumulated if you invested $25,000 at 4.3% interest for 8 years (answered by Alan3354)

I have a couple questions that I need help with please. How much would $500 invested... (answered by solver91311)

1. Sajid has a goal of saving $20 000 in 8 years. What principal invested for 5 years at... (answered by josmiceli)