SOLUTION: Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.

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Question 822817: Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
Assuming 365 days a year, we can say

8 yrs + 145 days = 8+145/365 = 8.39726 yrs (roughly)

A+=+Pe%5E%28rt%29

225500+=+Pe%5E%280.0875%2A8.39726%29

225500+=+Pe%5E%280.73476025%29

225500+=+P%2A2.08498

225500%2F2.08498+=+P

108154.51467+=+P

P+=+108154.51467

P+=+108154.51

So you need to invest $108,154.51 to Achieve $225,500 at 8.75% compounded continuously for 8 years, 145 days.