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Popular Word Problems >

find the present value of \$60000 due 8 years later at 6.6%, compounded continuously

Solution

solve for

t h e p rese n t v a l u e o f $60000 d u e 8 ye a rs l a t er a t 6.6%, co m p o u n d e d co n t in u o u s l y

Solution

Amount : 101732.27

Solution steps

Translate the problem into an equation:

A = 60000 e^{0.066 \cdot 8}

60000 e^{0.066 \cdot 8} = 101732.27037 \dots

Round to the nearest hundredth:

101732.27

Amount : 101732.27

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