You want to have 300,000 when you retire in 20 years. If you can earn 8% interest compounded continuously, how much would you need to deposit now into the account to reach your retirement goal?

Solución

You want to have 300, 000 when you retire in 20 years. If you can earn 8% interest compounded continuously, how much would you need to deposit now into the account to reach your retirement goal?

Solución

Principal : 60568.96

Pasos de solución

Translate the problem into an equation:

300000 = P e^{0.08 \cdot 20}

Resolver para

P, 300000 = P e^{0.08 \cdot 20} : P = 60568.96

Principal : 60568.96

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