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 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

Why did the Roman Catholic Church unite people during the Middle Ages?
a report conclusion on waste management​
I am confused about this problem I have gotten this problem wrong before. Select the correct texts in the passage. Which sentence uses an anecdote as a rhetor
The first transatlantic interactions produced which of the following consequences in both Europe and the Americas during the 16th century?A. The creation of inc
Which Tissues work together to form muscles? epithelial muscular connective nerves
A characteristic is a feature that helps to identify something. How would you describe a characteristic of a good movie or book?
help pls! I need the answer quickly and pls explain. thank you!
what are living organisms?
How would a river that drains a watershed be affected if a portion of forest uphill from the river was converted into a city with mostly impermeable surfaces? A
What is not a method being used by schools to reduce alcohol use at sporting events