Find how much money needs to be deposited now into an account to obtain $4,800 (Future Value) in 14 years if the interest rate is 6% per year compounded continuously. The final amount is $ Round your answer to 2 decimal places Question Help: Message instructor > Next Question
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06 - Continuous compounding formula: A = P * e^(rt) where A is the final amount, P is the initial deposit, e is the base of the natural logarithm (approximately 2.71828) Show more…
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