Question

How much money invested at 5% compounded continuously for 3 years will yield $820?

Answer 1

\[P\times e^{.15}=820\]
\[P=\frac{820}{e^{.15}}\] hten a calculator

Answer 2

or:
first year 820x105% =861
861x 105%=904.05
904.05x105% =949.2525