SOLUTION: You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.

Question 1130683: You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.
Found 3 solutions by addingup, MathTherapy, josgarithmetic:
Answer by addingup(3677)   (Show Source): You can put this solution on YOUR website!
16500/(e*0.09*6) = 11,240.76
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!
You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.

That's WRONG. He doesn't have a clue.
The correct answer is in the other post, or at Money_Word_Problems/1130684!
Answer by josgarithmetic(39617)   (Show Source): You can put this solution on YOUR website!

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