How much would you have to invest in an account earning 7.5% interest compounded continuously, for it to be worth one million dollars in $30 years?


3 Answers

Kioyre S. Profile
Kioyre S. answered

Continuous compound interest formula is your friend! (:

A = Pe^rt
1,000,000 = Pe^(0.075)x(30)

Maurice Korvo Profile
Maurice Korvo answered

Where did you find an account paying 7.5%??  I can't get more than 2 or 3%

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