00:01
Hi, in the given problem initial investment is $42 ,000 and the rate of return is 9 % which is compounded continuously.
00:20
So, this is compounded continuously.
00:22
So, we are required to find what is the amount at t is equal to 18 years.
00:28
So, for that we will be using the initial investment is $42 ,000.
00:35
So, this is the future value.
00:39
So, let's write this as fv.
00:43
So, we have to find the initial investment.
00:46
So, initial investment is what? so, p is equal to p0 e to the power rt...