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In Exercises 79-82, find the principal $P$ that will generate the given future value $A$. $A=\$ 10,000$ at $8 \%$ compounded continuously for 10 years 

   In Exercises 79-82, find the principal $P$ that will generate the given future value $A$.
$A=\$ 10,000$ at $8 \%$ compounded continuously for 10 years
Precalculus: A Right Triangle Approach
Precalculus: A Right Triangle Approach
Ratti, McWaters,… 5th Edition
Chapter 4, Problem 82 ↓
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In Exercises 79-82, find the principal $P$ that will generate the given future value $A$. $A=\$ 10,000$ at $8 \%$ compounded continuously for 10 years
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Transcript

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00:01 So here we're asked to figure out the investment after it's compounded continuously for eight years.
00:06 So it's very important to know that there are many different compound interest formulas.
00:11 There can be compounded annually or compounded depending on the number of time per year or compounded continuously in this case.
00:20 So for this case, if it's compounded continuously, we would use a is equal to p times e to the r times t power.
00:28 So you have a is equal to 3 ,350 times e to the rate, which is converted into a decimal 0 .62.
00:40 So we have e to the 0 .62 power times 8...
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