Determine initial amount placed in account at interest rate
The initial amount of money is placed in the account at the interest rate of 3% per year, compounded continuously. After 4 years, there is $1195.15 in account. Determine initial amount placed in account. Round answer to nearest cent.
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The initial amount of money is placed in the account at the interest rate of 3% per year, compounded continuously. After 4 years, there is $1195.15 in account. Determine initial amount placed in account.
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