Question

An initial amount of money is placed in an account at an interest rate of 1% per year, compounded continuously. After six years, there is $1189.26in the account. Find the initial amount placed in the account. Round your answer to the nearest cent

Answer 1

\[1189.26=Pe^{.06}\] solve for \(P\)

Answer 2

@satellite73 I got 1120 is that correct?

Answer 3

i don't know let me check

Answer 4

yeah, me too