SOLUTION: You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1130683: You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.
Found 3 solutions by addingup, MathTherapy, josgarithmetic:
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
16500/(e*0.09*6) = 11,240.76

Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!
You wish to have $16,500 in 6 years. How much he should invest now at 9% compounded continuously in order to reach your goal.
That's WRONG. He doesn't have a clue.

The correct answer is in the other post, or at Money_Word_Problems/1130684!

Answer by josgarithmetic(39617) About Me  (Show Source):