How much money has to be invested at 4.3% interest compounded continuously to have $19,000 after 16 years?

Money invested is $9,549.02

Step-by-step explanation:

The formula to calculate compound interest continuously is A= Pe^{rt}[/tex]

Here A is the amount ,P is the principal ,r=rate of interest ,t= time in years and e is mathematical constant.

Given A= $19,000,r=4.3%=0.043,t=16 years

Substituting these values in the formula we have:

19,000=P(1.989732)

P=9549.02

Money invested is $9549.02.

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step-by-step explanation:

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