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30 October, 03:08

What is the present value of $1,000,000 in 40 years at 3% compounded continuously?

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  1. 30 October, 03:15
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    Formula for continuous interest is A = Pe^rt

    The A is the amount after interest has been applied, P is what you start with.

    r is the rate and t is time in years

    1000000 = Pe^ (.03*40), now solve for P

    P = $301,194.21
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