Albdell Albdell

21-07-2020
Mathematics

contestada

Suppose you want to accumulate $ 150,000 for your retirement in 30 years. You want
to make a one-time deposit. How much should you deposit into an account with
continuous compounding at an APR of 4.8%? Round your answer to the nearest cent.

Respuesta :

paulww77 paulww77

21-07-2020

Answer:

$61,500

Step-by-step explanation:

$61,500

x

4.8% (.048)

=

$2952 yearly

x

30 years

=

$88,560

+

Initial Deposit of $61,500

=

$150,060

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