document.write( "Question 447608: The value of a particular investment follows a pattern of exponential growth. In the year 2000, you invested money in a money market account. If the continuous rate is 5.4% and in 2007 you have 4815.90, how much did you initially invest in the account? Round your answer to the nearest dollar. \n" ); document.write( "

Algebra.Com's Answer #308118 by katealdridge(100) $\"\"$ $\"About$

You can put this solution on YOUR website!
This uses the equation:
\n" ); document.write( " $\"A=Pe%5E%28rt%29\"$ A=final dollar amount, P=principal or initial investment amount, e=euler's number=2.718..., r=interest rate as a decimal, t=time in years.
\n" ); document.write( " $\"4815.90=Pe%5E%28.054%2A7%29\"$ Substitute appropriate values
\n" ); document.write( " $\"4815.90=Pe%5E%28.378%29\"$ simplify
\n" ); document.write( " $\"3300=P\"$ divide 4815.90 by $\"e%5E%28.378%29\"$
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