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Help with Algebra Question8

Algebra
Tutor: None Selected Time limit: 0 Hours

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

Achieve $225,500 at 8.35% compounded continuously for 8 years, 145 days.
Dec 9th, 2014

Continuous compounding rate = ln(1.0835) =0.080197

Worth of 225,000 after 8 145/365 years = 225,000 * exp(8.39726) = 441214.7 = 441,215

Answer: $441.215

Dec 9th, 2014

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