SOLUTION: How much money has to be invested at 5.1% interest compounded continuously to have $17,000 after 14 years?
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Question 465637
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How much money has to be invested at 5.1% interest compounded continuously to have $17,000 after 14 years?
Answer by
ewatrrr(24785)
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Hi,
A = Pe^(r*t) Compounding continously
17,000 = Pe^(.051*14)
17,000/e^(.714) = P
$8324.59 = P