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16 September, 15:27

Find the principal needed now to get to $25,500 after 10 years at 6% compounded continuously

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  1. 16 September, 18:00
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    Answer: $14239.07

    Explanation:

    A=P (1+I) ^n

    25500=P (1+0.06) ^10

    25500=P (1.06) ^10

    25500: (1.06) ^10=P

    P=$14239.07
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