nicoletterheanna nicoletterheanna

14-01-2020
Mathematics

contestada

Find the principal needed now to get to $25,500 after 10 years at 6% compounded continuously

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nelsonmsane2 nelsonmsane2

14-01-2020

Answer: $14239.07

Explanation:

A=P(1+I)^n

25500=P(1+0.06)^10

25500=P(1.06)^10

25500÷(1.06)^10=P

P=$14239.07

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