Find the present value for a $110,000 investment for 11 years at a compounded continuously at 5%. $ 188,137.33 X
Find the present value for a $110,000 investment for 11 years at a compounded continuously at 5%. $ 188,137.33 X
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
Transcribed Image Text:**Problem: Present Value Calculation**
Find the present value for a $110,000 investment for 11 years compounded continuously at 5%.
**Answer:**
$188,137.33 ✗
The answer provided is incorrect for the given parameters.
**Note:** For continuous compounding, the formula used is \( P = A \times e^{-rt} \), where \( A \) is the amount, \( r \) is the rate, and \( t \) is the time in years.
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