SOLUTION: An investment earns 9% compounded continuously. What amount should be invested now to have $14000 in 9 years. Round to the nearest cent.

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Question 907110: An investment earns 9% compounded continuously. What amount should be invested now to have $14000 in 9 years. Round to the nearest cent.
Answer by reviewermath(1029) About Me  (Show Source):
You can put this solution on YOUR website!
An investment earns 9% compounded continuously. What amount should be invested now to have $14000 in 9 years. Round to the nearest cent.
Let x = amount invested today
x%2Ae%5E%280.09%2A9%29+=+14000
x+=+14000%2F%28e%5E%280.09%2A9%29%29 = highlight%286228.01%29 dollars