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Lily is going to invest in an account paying an interest rate of 5.6% compounded continuously. How much would Lily need to invest, to the nearest cent, for the value of the account to reach $78,000 in 9 years?

 Feb 26, 2021
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FV = pv ert

78000 = pv e(.056)(9)

pv = $ 47120.53

 Feb 26, 2021

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