SOLUTION: An account now contains $12,280 and has been accumulating interest at a 8% annual rate, compounded continuously, for 5 years. Find the initial deposit.

Question 1154390: An account now contains $12,280 and has been accumulating interest at a 8% annual rate, compounded continuously, for 5 years. Find the initial deposit.
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.


12280 = 


where "x" is the unknown value under the question, and "e" is the base of natural logarithms.


e = 2.71828.


x =  = 8231.53 dollars.    ANSWER

Solved, answered, explained, calculated and completed.

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