Suppose that you have deposited a certain amount of money in a bank that pays an interest rate of 2.5%, compounded continuously. You checked your account today, 10 years later, and you have $12,840.25. What was your initial deposit?
Suppose that you have deposited a certain amount of money in a bank that pays an interest rate of 2.5%, compounded continuously. You checked your account today, 10 years later, and you have $12,840.25. What was your initial deposit?
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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