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How much money has to be invested at 5.1% interest compounded continuously to have 17000 after 14 years

How much money has to be invested at 5.1% interest compounded continuously to have 17000 after 14 years
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how much money has to be invested at 5.1% interest compounded continuously to have 17000 after 14 years

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User Frison Alexander
by
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2 Answers

2 votes

Answer:

Apex: 8324.59

Explanation:

answered
User Will Ness
by
8.0k points
2 votes
A=P*e^(rt)
So,
17000=P*e^(0.051*14)
Therefore, P=17000/(e^(0.051*14))
P=8324.57 approx.

answered
User KQS
by
8.5k points
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