Question: Solving A = Pert for P, we obtain P = Aet which is the present value of the amount A due in t years
Solving A = Pert for P, we obtain P = Aet which is the present value of the amount A due in t years if money earns interest at an annual nominal rate r compounded continuously. For the function P = 19,000e 0.04t, in how many years will the $19,000 be due in order for its present value to be $17,000? - In years, the $19,000 will be due in order for its present value to be $17,000. (Type an integer or decimal rounded to the nearest hundredth as needed.)
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