SOLUTION: How much money must be deposited today to become $1500 in 40 years at 6.5% compounded continously? The deposit must be $____

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Question 1083385: How much money must be deposited today to become $1500 in 40 years at 6.5% compounded continously?
The deposit must be $____
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
How much money must be deposited today to become $1500 in 40 years at 6.5% compounded continously?
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Don't type this.
The deposit must be $____
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1500 = AMT*e^(40*0.065)
AMT = 1500/e^(40*0.065)
AMT =~ $111.41