Question

how much money has to be invested at 5.9% interest compounded continuously to have 15,000 after 12 years?

Answer 1

$\bf \qquad \textit{Continuously Compounded Interest Earned Amount}\\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\to &\ 15000\\ P=\textit{original amount}\\ r=rate\to 5.9\%\to \frac{5.9}{100}\to &0.059\\ t=years\to &12 \end{cases} \\\\\\ 15000=Pe^{0.059\cdot 12}$

solve for P