Assume there are no deposits or withdrawals An account now contains $3,640 and has been accumulating interest at 5% annual interest, compounded continuously. How much was in the account 6 years ago? Round answer to nearest cent

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Assume there are no deposits or withdrawals

An account now contains $3,640 and has been accumulating interest at 5% annual interest, compounded continuously. How much was in the account 6 years ago? Round answer to nearest cent

 

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