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.

Algebra ->  Finance -> 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.      Log On

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