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Achieve $225,500 at 8.65% compounded continuously for 8 years, 135 days. $

 Aug 15, 2014

Best Answer 

 #1
avatar+118723 
+10

$$\boxed{FV=Pe^{rt}}$$

 

t =   $${\mathtt{8}}{\mathtt{\,\small\textbf+\,}}{\frac{{\mathtt{135}}}{{\mathtt{365}}}} = {\frac{{\mathtt{611}}}{{\mathtt{73}}}} = {\mathtt{8.369\: \!863\: \!013\: \!698\: \!630\: \!1}}$$   years

r=  0.0865

FV= 2250000

Plug the numbers in to get the present value P    

 Aug 16, 2014
 #1
avatar+118723 
+10
Best Answer

$$\boxed{FV=Pe^{rt}}$$

 

t =   $${\mathtt{8}}{\mathtt{\,\small\textbf+\,}}{\frac{{\mathtt{135}}}{{\mathtt{365}}}} = {\frac{{\mathtt{611}}}{{\mathtt{73}}}} = {\mathtt{8.369\: \!863\: \!013\: \!698\: \!630\: \!1}}$$   years

r=  0.0865

FV= 2250000

Plug the numbers in to get the present value P    

Melody Aug 16, 2014

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