SOLUTION: How much money do you need to invest at 2.8% compound continuously in order to have 25500 at the end of 8 years?

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Question 1042256: How much money do you need to invest at 2.8% compound continuously in order to have 25500 at the end of 8 years?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How much money do you need to invest at 2.8% compound continuously in order to have 25500 at the end of 8 years?
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A(t) = P*e^(r*t)
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25500 = P*e^(0.028*8)
P = 25500/e^(2.24)
P = 25500/9.3933
P = $2714.70
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Cheers,
Stan H.
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