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Popular Word Problems >

Find the present value of 8000 payable at the end of 2 years, if money may be invested at 6% with interest compounded continuously.

Solution

solve for

t h e p rese n t v a l u e o f 8000 p a y ab l e a t t h e e n d o f 2 ​ ye a rs, i f m o n ey ma y b e in v es t e d a t 6​% w i t h in t eres t co m p o u n d e d co n t in u o u s l y .

Solution

Amount : 9019.97

Solution steps

Translate the problem into an equation:

A = 8000 e^{0.06 \cdot 2}

8000 e^{0.06 \cdot 2} = 9019.97481 \dots

Round to the nearest hundredth:

9019.97

Amount : 9019.97

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