SOLUTION: How much money must be deposited today to become $1700 in 10 years at 8.5% compound continuously?

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Question 841653: How much money must be deposited today to become $1700 in 10 years at 8.5% compound continuously?
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
A = Pe^(rt)

1700 = Pe^(0.085*10)

1700 = Pe^(0.85)

1700 = P(2.33964685192669)

1700/2.33964685192669 = P

726.605384312619 = P

P = 726.605384312619

P = 726.61 ... round to the nearest cent

So you need to invest $726.61