# O EXPONENTIAL AND LOGARITHMIC FUNCTIONSFinding the initial amount in a word problem on continuouse comp...How much should be invested now at an interest rate of 6% per year, compounded continuously, to have \$1500 in three years?Do not round any intermediate computations, and round your answer to the nearest cent.?

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See attachment help_outlineImage TranscriptioncloseO EXPONENTIAL AND LOGARITHMIC FUNCTIONS Finding the initial amount in a word problem on continuouse comp... How much should be invested now at an interest rate of 6% per year, compounded continuously, to have \$1500 in three years? Do not round any intermediate computations, and round your answer to the nearest cent. ? fullscreen
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Step 1

To determine the amount that should be invested to get a return of \$ 1500 in three provided that the rate of interest is 6% per year compounded continuously.

Step 2

The accumulated amount A after t years for principal amount P invested at a rate of interest r compounded continuously is given by the formula:

Step 3

Consider that the rate of interest is 6%, accumulated amount...

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