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Suppose you invest $P on a CD paying 1.85% interest compounded continuously for a term
Chapter 10, Problem 46(choose chapter or problem)
QUESTION:
Suppose you invest $P on a CD paying 1.85% interest compounded continuously for a term of five years. At the end of the term you get $1645.37 from the bank. Find the value of the original principal P
Questions & Answers
QUESTION:
Suppose you invest $P on a CD paying 1.85% interest compounded continuously for a term of five years. At the end of the term you get $1645.37 from the bank. Find the value of the original principal P
ANSWER:Step 1 of 3
We have invested on a CD paying interest compounded continuously for a term of five years.
At the end of the term, we get .