Denise opened a savings account 3 years ago. The account earns 5% interest, compounded continuously. If the current balance is 800.00, how much did she deposit initially?

Solución

Solución

Principal : 688.57

Pasos de solución

Translate the problem into an equation:

800 = P e^{0.05 \cdot 3}

Resolver para

P, 800 = P e^{0.05 \cdot 3} : P = 688.57

Principal : 688.57

Ejemplos populares

9 less than twice a number Rick ran for 3/4 hour on Wednesday for a distancia of 4.2 miles. On Thursday, he ran for 1 hour at the same speed he ran on Wednesday. How many miles did Rick run on Thursday?The radio of a circle is 19 m. Find its area in terms of find all the pairs of consecutive odd natural numbers, both of which are larger than 10,such that their sum is less than 40 Mark deposited 10,000.00 into a new savings account that earns interest compounded annually. After 10 years, the balance in the account was 21,947.00. What was the interest rate on the account?