Question

assuming that you wish to have $19000 in 7 years and that the account earns 6% compounded continuously. Round your answer to the nearest cent.

Answer:

Answer 1

Continuous compounding has the formula
future amount = present amount * e^rt
where t=number of periods, and r=rate

So
19000 = A*e^(0.06*7)
Solve for A.