Determine the principal P (to the nearest cent)that will yield a balance of A=2,500,000 dollars when invested at rate r=11% for 40 years, compounded once per year. Round the answer to two decimal places.
A)$56,306.31
B)$568,181.82
C)$68,460.62
D)$55,625.00
E)$38,461.03

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The Answer of Determine the principal P (to the nearest cent)that will yield a balance of A=2,500,000 dollars when invested at rate r=11% for 40 years, compounded once per year. Round the answer to two decimal places.
A)$56,306.31
B)$568,181.82
C)$68,460.62
D)$55,625.00
E)$38,461.03

Determine the Principal P (To the Nearest Cent)that Will Yield