SOLUTION: how much money has to be invested at 5.9% interest compounded continuously to have $15000 after 12 years

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Question 612522: how much money has to be invested at 5.9% interest compounded continuously to have $15000 after 12 years
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
how much money has to be invested at 5.9% interest compounded continuously to have $15000 after 12 years
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A(t) = P*e^(rt)
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15000 = P*e^(0.059*12)
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P = 15000/2.0299
Principle = $7389.43
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Cheers,
Stan H.