SOLUTION: It takes 12 years if you invest in an account paying 5.35% compounded continuously to become $14,252? Calculate the present value of this amount.

SOLUTION: It takes 12 years if you invest in an account paying 5.35% compounded continuously to become $14,252? Calculate the present value of this amount.

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Question 1159781: It takes 12 years if you invest in an account paying 5.35% compounded continuously to become
$14,252? Calculate the present value of this amount.
Answer by MowMow(42) (Show Source): You can put this solution on YOUR website!
Use A = Pe^rt
14252 =P e^.0535(12)
P = $7500
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