document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1000216>Question 1000216</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help me solve this word problem:\r<BR>\n" );
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document.write( "An investor wants to have a retirement nest egg $100,000 and estimates that her investment now will grow at 4% compounded continuously for 30 years.  What amount should she invest now to achieve this goal?  (do not approximate until your final answer.)\r<BR>\n" );
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document.write( "Thank you so much. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #617698 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=617698\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Formula Used:<BR>\n" );
document.write( "A = P*e^(r*t)\r<BR>\n" );
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document.write( "Given values:<BR>\n" );
document.write( "A = 100,000<BR>\n" );
document.write( "r = 0.04<BR>\n" );
document.write( "t = 30\r<BR>\n" );
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document.write( "What we want to find: P<BR>\n" );
document.write( "The goal is to solve for P. In other words, isolate P on its own side.\r<BR>\n" );
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document.write( "Note: 'e' is the constant 2.718... It's a lot like pi = 3.14... in that it is a decimal value that goes on forever without any fixed pattern.\r<BR>\n" );
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document.write( "-------------------------------------------------------\r<BR>\n" );
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document.write( "A = P*e^(r*t)\r<BR>\n" );
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document.write( "100,000 = P*e^(0.04*30) ... plug in the given values (see above)\r<BR>\n" );
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document.write( "100,000 = P*e^(1.2)\r<BR>\n" );
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document.write( "100,000 = P*3.32011692\r<BR>\n" );
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document.write( "100,000/3.32011692 = P*3.32011692/3.32011692 ... Divide both sides by 3.32011692.\r<BR>\n" );
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document.write( "30,119.4212160457 = P\r<BR>\n" );
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document.write( "P = 30,119.4212160457\r<BR>\n" );
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document.write( "P = 30,119.42\r<BR>\n" );
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document.write( "So you need to invest <font color=\"red\">$30,119.42</font><BR>\n" );
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