Answer
$P \approx 1481.64$
Work Step by Step
To find the present value for an interest rate $r=0.06$ compounded continuously for $t=5$ years
$A=Pe^{rt}$
$2000=Pe^{0.06(5)}$
$P = \frac{2000}{e^{0.06(5)}} \approx 1481.64$
Calculus with Applications (10th Edition)
by Lial, Margaret L.; Greenwell, Raymond N.; Ritchey, Nathan P.
Published by
Pearson
ISBN 10:
0321749006
ISBN 13:
978-0-32174-900-0
Chapter 2 - Nonlinear Functions - Chapter Review - Review Exercises - Page 114: 99
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