Present Value of an Investment Diego deposited a certain sum of money in a bank 4 years ago. If the bank had been paying interest at the rate of 7% compounded continuously and he has $13,000 on deposit today, what was his initial deposit? (Round your answer to the nearest cent.) $ Need Help? Read I
Present Value of an Investment Diego deposited a certain sum of money in a bank 4 years ago. If the bank had been paying interest at the rate of 7% compounded continuously and he has $13,000 on deposit today, what was his initial deposit? (Round your answer to the nearest cent.) $ Need Help? Read I
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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