Determine the Principal P That Must Be Invested at Interest $r = 7.5 \%$

question 104

Multiple Choice

Determine the principal P that must be invested at interest rate r compounded continuously, so that $1,000,000 will be available for retirement in years $r = 7.5 \%$ , $t = 40$ .

• A)$49787.07
• B)$50787.07
• C)$49000.04
• D)$40000.06

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