Time remaining:
present value rounded to the nearest cent

Mathematics
Tutor: None Selected Time limit: 1 Day

Find the present value, using the present value formula and a calculator. (Round your answer to the nearest cent.)

Achieve $225,500 at 8.35% compounded continuously for 8 years, 135 days.
Nov 15th, 2014

Continuous compounding rate = ln (1.0835) =0.080197

present value = 225,500 * exp(-080197*8.369863) =115248

Answer: $115,248


Nov 15th, 2014

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