How much money needs to be invested now to obtain $2000 in 3 years if the interest rate in a savings account is 0.25%, compounded continuously? Round your answer to the nearest cent.
2000 = Pe^(r * t) where r = .0025 and t = 3
2000 = Pe^(.0025 * 3) divide both sides by e^(.0025 * 3)
2000/e^(.0025 * 3) = P = about $1985.06
+16 
