Determine the Principal P (To the Nearest Cent)that Will Yield $A = 2,500,000$

question 7

Multiple Choice

Determine the principal P (to the nearest cent) that will yield a balance of $A = 2,500,000$ dollars when invested at rate $r = 10 \%$ for 40 years, compounded 365 times per year. Round the answer to two decimal places.

• A)$38,920.73
• B)$1,541,095.89
• C)$1,712.33
• D)$2,472,756.03
• E)$45,814.19

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