Try another version of this question How much money needs to be deposited now into an account to obtain `$ 5,900` in `8` years if the interest rate is `7%` per year compounded continuously? `$`. Round your answer to 2 decimal places Get help: Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Recall the formula for continuous compound interest in the context of exponential growth. Consider how you can use this formula to work backwards from the future value to the present value, given the time and interest rate.
Enter DNE for Does Not Exist, oo for Infinity 3,370.13