Andrea1997 Andrea1997

15-06-2017
Mathematics

contestada

What is the present value of $1,000,000 in 40 years at 3% compounded continuously?

Respuesta :

amathzing amathzing

15-06-2017

Formula for continuous interest is A = Pe^rt

The A is the amount after interest has been applied, P is what you start with.
r is the rate and t is time in years

1000000 = Pe^(.03*40), now solve for P

P = $301,194.21

Answer Link

Otras preguntas

4. Complete the sentences with the words below. boots; cardigan ; shorts; socks; gloves; scarf; hat; trainers; tracksuit; tie; 1 You put your _____________ on b

Set of multiples of 3 less than 15?

together, teammates pedro and ricky hit 2692 base hits last season. pedro had 284 more hits than ricky. how many hits did each player have?

PLS HELP ME WITH THIS! THANK YOU IN ADVANCE <3

a ball is tossed up into the air, reaches its highest point and returns to its original position. which of the following is true about the balls velocity and ac

Which of the following processes is considered the slowest and smallest acting methods of destroying surface features? a. erosion b. flooding c. volcanic activi

Why did industry develop and flourish in New England before other regions of the United States? A) There was less slavery in New England in the early 1800s than

Two measures of two angles of a triangle are 68° and 70°. Explain how to find the measure of the third angle.

Solve 6,445 step by step

Help its due today ................................