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A savings account paying 3% continuously compounded interest has $1600 after 8 years. How much was initially deposited? O $630 $1020 O $1259 O $1159

A savings account paying 3% continuously compounded interest has $1600 after 8 years. How much was initially deposited? O $630 $1020 O $1259 O $1159

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
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A savings account paying 3% continuously compounded interest has $1600 after 8 years. How much was initially deposited? O $630 $1020 O $1259 O $1159 A Moving to the next question prevents changes to this answer. Questio 72°F Clear End PaUp PgDn 近
Transcribed Image Text:A savings account paying 3% continuously compounded interest has $1600 after 8 years. How much was initially deposited? O $630 $1020 O $1259 O $1159 A Moving to the next question prevents changes to this answer. Questio 72°F Clear End PaUp PgDn 近
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