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4 years ago

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How much money has to be invested at 2.3% interest compounded continuously to have $41,000 after 17 years

2 answers:

k0ka [10]4 years ago

5 0

We have to calculate how much money has to be invested at 2.3% interest compounded continuously to achieve $41,000 after 17 years. The formula is: A = P * ( 1 + r )^t, where A = $41,000, r = 0.023 and t = 17. 41,000 = P * ( 1 + 0.023 ) ^17; 41,000 = P * ( 1.023 )^17; 41,000 = P * 1.4719; P = 41,000 : 1.4719; P = 27,855.15. Answer: It has to be invested <span>$27,855. </span>

11111nata11111 [884]4 years ago

5 0

Answer:

APEX - $27,731.59 is the correct answer

Step-by-step explanation:

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