Suppose that P dollars in principal is invested in an account earning 4.4% interest compounded continuously. At the end of 3 yr, the amount in the account has earned $1058.31 in interest. Find the original principal and round to the nearest dollar

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 2YT
icon
Related questions
Question
Suppose that P dollars in principal is invested in an account earning 4.4% interest compounded continuously. At the end of 3 yr, the amount in the account has earned $1058.31 in interest. Find the original principal and round to the nearest dollar
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College