Suppose that P dollars in principal is invested in an account earning 3.9% interest compounded continuously. At the end of 4 yr, the amount in the account has earned $1603.85 in interest. Part: 0 / 2 Part 1 of 2 (a) Find the original principal. Round to the nearest dollar. (Hint: Use the model A = Pe' and substitute P+ 1603.85 for A.) The original principal was approximately $.

Suppose that P dollars in principal is invested in an account earning 3.9% interest compounded continuously. At the end of 4 yr, the amount in the account has earned $1603.85 in interest. Part: 0 / 2 Part 1 of 2 (a) Find the original principal. Round to the nearest dollar. (Hint: Use the model A = Pe' and substitute P+ 1603.85 for A.) The original principal was approximately $.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...

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