Question
Exponential and log functions
What initial investment at 8.5% compounded continuously for 7 years will accumulate to 50,000?
What initial investment at 8.5% compounded continuously for 7 years will accumulate to 50,000?
Answers
Reiny
solve for a
a(e^(.085(7)) = 50000
a = 50000/e^.595 = 27578.13
a(e^(.085(7)) = 50000
a = 50000/e^.595 = 27578.13