SOLUTION: Find the future/present value of $4000 compunded continuously at 8% for 6 years.
A= Pe rt
I answered $4000/(.08)^6- future value = $6464.30
present value $4000(1+.08/12)^7
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Find the future/present value of $4000 compunded continuously at 8% for 6 years.
A= Pe rt
I answered $4000/(.08)^6- future value = $6464.30
present value $4000(1+.08/12)^7
Log On
Question 205227: Find the future/present value of $4000 compunded continuously at 8% for 6 years.
A= Pe rt
I answered $4000/(.08)^6- future value = $6464.30
present value $4000(1+.08/12)^72= $6454 Answer by rfer(16322) (Show Source):
You can put this solution on YOUR website! I get the same answers you do except I got $6464.32 for the first.
The second you don't indicate the compounding period, but use monthly in your equation, so I did the same. Your answer is correct based on monthly compounding.
Good luck
Bob
(