Answered

Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Discover the answers you need from a community of experts ready to help you with their knowledge and experience in various fields. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

How much should you invest in an account that pays 6% annual interest compounded continuously if you want exactly $8000 after four years?

Sagot :

Answer:

$6239

Step-by-step explanation:

A(t) = P•e^rt

Substitute with 6% 0.06, t with 4 and A(t) with 8,000 to find the value of P.

8, 000 = P•e^0.06•4

8, 000 = P•e^0.24

8, 000 = P•1.27

P = 6, 293

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.