For this, we have to calculate how much money has to be invested at 2.3% interest compounded continuously to achieve $41,000 after 17 years
Formula: A= P * ( 1+r)^t A= $41,000 r=0.023 t= 17 <span>41,000= P * (1+0.023)^17 </span>41,000= P * (1.023)^17 41,000= P * 1.4719 P= 41,000 : 1.4719 P= $27,731.59 Therefore, the answer is C. $27,731.59 I checked by doing the opposite, and I got $41,000.01, which is the closest to the question<span> </span>
