Achieve $225,500 at 8.65% compounded continuously for 8 years, 125 days

garzettaiy

garzettaiy

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2022-09-03

Achieve $225,500 at 8.65% compounded continuously for 8 years, 125 days

Answer & Explanation

ekhonawy

ekhonawy

Beginner2022-09-04Added 6 answers

FV = PVe^(rt)
There are 4 variables to this equation, so we'll need to know 3 of them to solve for the 4th.
FV = $225,500
r = 8.65%
t = 8.342 yr
so, we need to solve for PV
PV = FV/(e^rt) = $109,589.02

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