Alejandro is going to invest in an account paying an interest rate of 3.2% compounded continuously. How much would Alejandro need to invest, to the nearest ten dollars, for the value of the account to reach 161,000 in 20 years?

Solución

Alejandro is going to invest in an account paying an interest rate of 3.2% compounded continuously. How much would Alejandro need to invest, to the nearest ten dollars, for the value of the account to reach 161, 000 in 20 years?

Solución

Principal : 84894.08

Pasos de solución

Translate the problem into an equation:

161000 = P e^{0.032 \cdot 20}

Resolver para

P, 161000 = P e^{0.032 \cdot 20} : P = 84894.08

Principal : 84894.08

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