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Popular Word Problems >

Find the present value of 25000 due 11 years later at 6.2%, compounded continuously.

Solution

solve for

t h e p rese n t v a l u e o f 25000 d u e 11 ye a rs l a t er a t 6.2%, co m p o u n d e d co n t in u o u s l y .

Solution

Amount : 49445.74

Solution steps

Translate the problem into an equation:

A = 25000 e^{0.062 \cdot 11}

25000 e^{0.062 \cdot 11} = 49445.73595 \dots

Round to the nearest hundredth:

49445.74

Amount : 49445.74

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