SOLUTION: Randy invested his inheritance in an account that paid 6.1% interest, compounded continuously. After 5 years, he found that he now had $51,426.94. What was the original amount of

Algebra ->  Graphs -> SOLUTION: Randy invested his inheritance in an account that paid 6.1% interest, compounded continuously. After 5 years, he found that he now had $51,426.94. What was the original amount of      Log On


   



Question 327598: Randy invested his inheritance in an account that paid 6.1% interest, compounded continuously. After 5 years, he found that he now had $51,426.94. What was the original amount of his inheritance?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
F=Pe%5E%28rt%29
51426.94=Pe%5E%280.061%285%29%29
P=51426.94%2F1.3566
P=37908
He inherited $37,908.00 five years ago.