SOLUTION: How much money must be deposited today to amount to $2375 in 21 years at 3.75% compounded continuously?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: How much money must be deposited today to amount to $2375 in 21 years at 3.75% compounded continuously?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1130469: How much money must be deposited today to amount to $2375 in 21 years at 3.75% compounded continuously?
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.
2375 = P%2Ae%5E%280.0375%2A21%29


P = 2375%2Fe%5E%280.0375%2A21%29 = 1080.57 dollars.     ANSWER