SOLUTION: How much money do you need to invest at 2.8% compound continuously in order to have 25500 at the end of 8 years?
Algebra.Com
Question 1042256: How much money do you need to invest at 2.8% compound continuously in order to have 25500 at the end of 8 years?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How much money do you need to invest at 2.8% compound continuously in order to have 25500 at the end of 8 years?
-----
A(t) = P*e^(r*t)
----------
25500 = P*e^(0.028*8)
P = 25500/e^(2.24)
P = 25500/9.3933
P = $2714.70
--------------
Cheers,
Stan H.
----------
RELATED QUESTIONS
How much should be invested at 8% compounded semiannually in order to have $5000 at the... (answered by checkley77)
invest 100 00 in 4 years at 7% compound interest. how much money at the end of 4... (answered by Cromlix)
How much would you need to deposit in an account at the end of each month in order to... (answered by Theo)
I need help figuring out this problem, If you invest $8,000 in an account paying 5.9%... (answered by MathTherapy)
If you invest $5,900 in an account paying 10.5% compounded continuously, how much money... (answered by rfer)
If you invest $7,100 in an account paying 8.5% compounded continuously, how much money... (answered by rfer)
If you invest $5,900 in an account paying 12.5% compounded continuously, how much money... (answered by Theo)
How much money do you need to invest at 1.7% interest now so that in 12 years you will... (answered by Alan3354)
You have 14400 to invest in two accounts paying 8% and 10% annual interest. at the end of (answered by richwmiller)