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Popular Word Problems >

Find the present value of 9000 payable at the end of 2 years, if money may be invested at 8% with interest compounded continuously.

Solution

solve for

t h e p rese n t v a l u e o f 9000 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 8​% 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 : 10561.6

Solution steps

Translate the problem into an equation:

A = 9000 e^{0.08 \cdot 2}

9000 e^{0.08 \cdot 2} = 10561.59783 \dots

Round to the nearest hundredth:

10561.6

Amount : 10561.6

Popular Examples

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