SOLUTION: Randy invested his inheritance in an account that paid 6.4% interest, compounded continuously. After 8 years, he found that he now had $59,272.90. What was the original amount of h
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Question 1207184: Randy invested his inheritance in an account that paid 6.4% interest, compounded continuously. After 8 years, he found that he now had $59,272.90. What was the original amount of his inheritance?
Answer by math_tutor2020(3817) (Show Source): You can put this solution on YOUR website!
A = P*e^(r*t)
59272.90 = P*e^(0.064*8)
59272.90 = P*1.66862511014
P = 59272.90/1.66862511
P = 35521.99930636
P = 35522.00 dollars is the final answer
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