SOLUTION: frank beard want to have 5000 3 years from now. how much should he deposit now in an account that earn 5% interest, compounded continuously to reach his goal

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Question 1149614: frank beard want to have 5000 3 years from now. how much should he deposit now in an account that earn 5% interest, compounded continuously to reach his goal
Answer by ikleyn(52781) About Me  (Show Source):
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frank beard highlight%28cross%28want%29%29 wants to have 5000 3 years from now. how much should he deposit now in an account that earn 5% interest,
compounded continuously to reach his goal
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5000 = X%2Ae%5E%280.05%2At%29 = X%2Ae%5E%280.05%2A3%29.


X = 5000%2Fe%5E0.15 = 5000%2F2.71828%5E0.15 = 4303.54.    ANSWER