I do not know present value formula, using head
125/365 = .34247
so t = 8.34247
A = p e^rt
225,500 = p e^.0855 (8.34247)
ln 225,500 = ln p + .71328
ln p = 11.6128
p = $110,502.72
Find the present value, using the present value formula and a calculator. (Round your answer to the nearest cent.)
Achieve $225,500 at 8.55% compounded continuously for 8 years, 125 days.
1 answer
1 answer