Haley opened a savings account 1 year ago. The account earns 13% interest, compounded continuously. If the current balance is 5,000.00, how much did she deposit initially?

Solución

Haley opened a savings account 1 year ago. The account earns 13% interest, compounded continuously. If the current balance is 5, 000.00, how much did she deposit initially?

Solución

Principal : 4390.48

Pasos de solución

Translate the problem into an equation:

5000 = P e^{0.13 \cdot 1}

Resolver para

P, 5000 = P e^{0.13 \cdot 1} : P = 4390.48

Principal : 4390.48

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