If you can invest money at a rate of 8.5% compounded continuously, and you want to have 34,000 at the
end of 15 years, how much do you need to invest initially?

Step-by-step explanation:

The formula to compound continuously is

where

A(t) is the amount after all the compounding is done,

P is the initial investment,

r is the interest rate in decimal form, and

t is the time in years.  

For us, that looks like this:

and

When you raise e (Euler's number) on your calculator to that power you get

34000 = P(3.57870141) and

P = 9500.65

-18

step-by-step explanation:

because mean value defines that total sum value over total number of set