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

Multiple Choice

Determine the principal P (to the nearest cent) that will yield a balance of $A = 500,000$ dollars when invested at rate $r = 8.5 \%$ for 40 years, compounded continuously. Round the answer to two decimal places.

A) $611,887.72
B) $495,364.63
C) $16,686.63
D) $13,015.58
E) $13,608.96