Mathematics
camerinfred23
2017-08-24 17:26:30
Find the principle needed to have a balance of $1000 after 10 years invested at 3.25% interest compounded continuously
ANSWERS
mkrenoinc
2017-08-24 21:22:01

You will need to use this formula Principal = Total / [e^(rate*years)] (where "e" is the mathematical constant 2.718281828459) Principal = 1,000 / [e^.0325*10] Principal = 1,000 /  1.384030646 Principal = 722.53 Source: http://www.1728.org/rate2.htm

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