SOLUTION: Find the future/present value of $4000 compunded continuously at 8% for 6 years. A= Pe rt I answered $4000/(.08)^6- future value = $6464.30 present value $4000(1+.08/12)^7

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Find the future/present value of $4000 compunded continuously at 8% for 6 years. A= Pe rt I answered $4000/(.08)^6- future value = $6464.30 present value $4000(1+.08/12)^7      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   

Question 205227: Find the future/present value of $4000 compunded continuously at 8% for 6 years.
A= Pe rt
I answered $4000/(.08)^6- future value = $6464.30
present value $4000(1+.08/12)^72= $6454
Answer by rfer(10425) About Me  (Show Source):
You can put this solution on YOUR website!
I get the same answers you do except I got $6464.32 for the first.
The second you don't indicate the compounding period, but use monthly in your equation, so I did the same. Your answer is correct based on monthly compounding.
Good luck
Bob