Question 201085: Find the present value of $15,000 due 5 years later at 6.1% compounded continuously.
can someone help
thanks
Found 2 solutions by rfer, MathTherapy:
Answer by rfer(16322)   (Show Source):
You can put this solution on YOUR website! A=Pe^rt
P=15000
r=.061
t=5
e=approx. 2.78
------------------
A=15000(2.78)^(.061)(5)
A=15000(2.78)^.305
A=15000*1.365946
A=$20,489.20
Answer by MathTherapy(10552)  (Show Source):
You can put this solution on YOUR website!
Present Value formula:  , where P = present value, A = future value, e = 2.7182818, r = interest rate, and t = time, in years.
= 
 =  = 
Therefore, a present value amount of $11,056.85 will yield $15,000 in 5 years, at an interest rate of 6.1%.
|
|
|
