Levi is going to invest in an account paying an interest rate of 3.4% compounded continuously. How much would Levi need to invest, to the nearest ten dollars, for the value of the account to reach 620 in 16 years?

Solución

Solución

Principal : 359.86

Pasos de solución

Translate the problem into an equation:

620 = P e^{0.034 \cdot 16}

Resolver para

P, 620 = P e^{0.034 \cdot 16} : P = 359.86

Principal : 359.86

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