SOLUTION: I know the formula for this type of problem, but I can't seem to turn it around to get the answer to this problem.
What is the initial investment if you end up with $30,000 after
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What is the initial investment if you end up with $30,000 after
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Question 139543: I know the formula for this type of problem, but I can't seem to turn it around to get the answer to this problem.
What is the initial investment if you end up with $30,000 after 18 years of instantaneous interest at 10%.
Please help! Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! What is the initial investment if you end up with $30,000 after 18 years of instantaneous interest at 10%.
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A(t) = Pe^(rt)
30000 = Pe^(0.10*18)
30000 = Pe^1.8
P = 30000/6.0496
P = $4958.97
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Cheers,
Stan H.
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