SOLUTION: What initial investment at 6.5% compounded continuously for 6 years will accumulate to $70,000?

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Question 659636: What initial investment at 6.5% compounded continuously for 6 years will accumulate to $70,000?
Found 2 solutions by stanbon, MathLover1:
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
What initial investment at 6.5% compounded continuously for 6 years will accumulate to $70,000?
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A(t) = P*e^(rt)
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70.000 = P*e^(0.065*6)
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70000 = P*1.477
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P = 70000/1.477 = $47,393.98
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Cheers,
Stan H.

Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

let x be initial investment
initial investment at 6.5% compounded continuously for 6 years will accumulate to $70000
x%2B+0.065x%2A6=70000
x%2B+0.39x=70000
1.39x=70000
x=70000%2F1.39
x=50359.7