Determine initial amount placed in account at interest rate
The initial amount of money is placed in the account at the interest rate of 3% per year, compounded continuously. After 4 years, there is $1195.15 in account. Determine initial amount placed in account. Round answer to nearest cent.
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For the Real Estate Sales Price Case (or data set RealEst2), answer the following questions data set in this book Essentials of the Business Statistics 4th Edition by Bowerman, O'Connell, and Orris © 2011 McGraw-Hill Irwin
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The initial amount of money is placed in the account at the interest rate of 3% per year, compounded continuously. After 4 years, there is $1195.15 in account. Determine initial amount placed in account.
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