SOLUTION: An investor wants to have a retirement nest egg of $175,000 and estimates that her investment now will grow at 6% compounded continuously for 30 years. What amount should she inve

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: An investor wants to have a retirement nest egg of $175,000 and estimates that her investment now will grow at 6% compounded continuously for 30 years. What amount should she inve      Log On


   

Question 1149748: An investor wants to have a retirement nest egg of $175,000 and estimates that her investment now will
grow at 6% compounded continuously for 30 years. What amount should she invest now to achieve this
goal? (Do not approximate until your final answer!!)
Answer by ikleyn(52879) About Me  (Show Source):
You can put this solution on YOUR website!
.

175000 = X%2Ae%5E%280.06%2A30%29


where X is the amount deposited at the beginning.


X = 175000%2F%28e%5E%280.06%2A30%29%29 = 175000%2F%282.71828%5E1.8%29 =  28927.34 dollars.   ANSWER