You want to have 800,000 when you retire in 30 years. If you can earn 7% interest compounded continuously, how much would you need to deposit now into the account to reach your retirement goal?

Solución

You want to have 800, 000 when you retire in 30 years. If you can earn 7% interest compounded continuously, how much would you need to deposit now into the account to reach your retirement goal?

Solución

Principal : 97965.14

Pasos de solución

Translate the problem into an equation:

800000 = P e^{0.07 \cdot 30}

Resolver para

P, 800000 = P e^{0.07 \cdot 30} : P = 97965.14

Principal : 97965.14

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