Calculating the Starting Principal If you would like to have accumulated $1000000 after 15 years with nominal interest rate of 6.5% compounded quarteriy, how much money do you need to deposit today (what is your starting principal)? Our formula for the accumulated amount of money is A=P(1+mr)mt We can rearrange this formula to solve for the starting principal as P=(1+m)n Correct answer, well done. Correct answer, well done. Marks for this submission: 100/100. Marks for this submission: 1.00/.00. Now, here we have A=r=m=sincetherearequartersinayeart= So we can calculate that the starting principal is P= (1+40.065)415 For the second input box in the line above, round your answer to 2 decimal places Now, consider how much money do you need to deposit today (what is your starting principal), if you would like to have accumulated $1000000 after 15 years with nominat interest rate of 6.5% compounded continuously? Our formula for the accumulated amount of money compound continuously is A=Pert We can rearrange this formula to solve for the starting principal as P= Correct answer, well done. Correct answer, well done. Now, consider how much money do you need to deposit today (what is your starting principal), if you would like to have accumulated $1000000 after 15 years with nominal interest rate of 6.5% compounded continuously? Our formula for the accumulated amount of money compound continuously is A=Pert We can rearrange this formula to solve for the starting principal as P=(e Correct answer, well done. Correct answer, well done. Marks for this submission: 1.00/1.00. Marks for this submission: 1.00/1.00. So we can calculate that the starting principal is P= e0.06515 For the second input box in the line above, round your answer to 2 decimal places