28.0k views
3 votes
How much money invested at 5% compounded continuously for 3 years will yield at $820?

User DeadMonkey
by
5.4k points

1 Answer

3 votes

Answer:

Percentage of interest at which the money is invested = 5%

Time for which the money is invested = 3 years

The final amount after 3 years = $820

Let us assume the principal amount = x dollars

We can conclude that the principal amount invested was $708.35.


User Matteo Merli
by
6.4k points