Question

Asked Nov 5, 2019

319 views

Step 1

It is given that,

Annual interest rate is 2.63% compounded continuously.

Number of years is 15.

Accumulated value is $1,912.41.

Step 2

The formula to calculate the present value is given below:

Step 3

Substitute $1,912.41. for accumulated value, 2.6...

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