SOLUTION: Use the continuous compound interest formula to find the indicated value.
A=​94,000​ P=​$81,577​ r=6.3​% t=?
in years, round 2 places
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Question 1091602: Use the continuous compound interest formula to find the indicated value.
A=94,000 P=$81,577 r=6.3% t=?
in years, round 2 places as needed
Answer by math_helper(2461) (Show Source): You can put this solution on YOUR website!
F = Future value (also corresponds to A in this problem)
P = Present value
r = annual interest rate, expressed as a decimal
t = time in years
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Plugging in the given values:
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Ans: years
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Check: (ok, considering rounding of t to 2.25. More digits of precision must be retained to get the exact answer 94000)
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