SOLUTION: What amount must be deposit so that the investment will grow to $12000,in 10 years at 6% compounded continuously?
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Question 978381: What amount must be deposit so that the investment will grow to $12000,in 10 years at 6% compounded continuously?
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
The following applies only to interest compounded continuously.
The formula for interest that is compounded is:
represents the amount of money after a certain amount of time
represents the principle or the amount of money you start with
represents the interest rate and is always represented as a decimal
represents the amount of time in years
given:
to find:
.........
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