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Need Help Algebra Question Again

label Algebra
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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 14th, 2014
Note that 145 days / 365 days/year = 0.397 years so you have a total of 8.397 years

In case of continuously compounded interest, the relevant formula is

A = Pert.

225000=Pe^0.7011495 Therefore PV= $111,603.33 On the Calculator Enter 
Future Value (FV) $225,000
Number of Periods (t) 8.397 (years)
Interest Rate per Period (R) 8.35% (per year) 
Compounding per Period (m) C or continuous Answer:

Present Value (PV) of the Future Sum

$ 111,691.72

Present Value Interest Factor (PVIF) = 0.49640
Dec 14th, 2014

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