A bank account earns 5% continuously compounding annual interest. After the initial deposit, no deposits or withdrawals were made. After 10 years, the balance in the account was $ 15000. What was the dollar amount of the initial deposit? $15000 15000 15000 $. el0 $15000 e0.5

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
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A bank account earns 5% continuously compounding annual
interest. After the initial deposit, no deposits or withdrawals
were made. After 10 years, the balance in the account was $
15000.
What was the dollar amount of the initial deposit?
$15000
$4
15000
24
$ 15000
$15000 e0.5
Transcribed Image Text:A bank account earns 5% continuously compounding annual interest. After the initial deposit, no deposits or withdrawals were made. After 10 years, the balance in the account was $ 15000. What was the dollar amount of the initial deposit? $15000 $4 15000 24 $ 15000 $15000 e0.5
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