Question

Money is invested in a savings account at 4.25% simple interest. After 1 year, there is $479.55 in the account. How much was originally invested?

Answer 1

does this equation sound familiar A=Aoe^(-kt)

Answer 2

not at all, sorry!

Answer 3

ok are you doing logs or natural log

Answer 4

not sure, its review questions so were not doing anything specific.

Answer 5

do you know how to use ln or log

Answer 6

sort of

Answer 7

ok use the equation before where A=479.55 t=1 k=.0425

Answer 8

just plug it in?

Answer 9

yeah

Answer 10

479.55=Aoe^-.0425x1

Answer 11

sorry gtg

Answer 12

Well, that was all wrong. We were hinting at continuous interest, here. That is not what the problem statement wants.