Annaleeze G.

asked • 04/20/22

Solve using A=Pe^rt

An account has $26,000 after 15 years. The account received 2.3 percent interest compounded continuously. How much was deposited initially. Show all work.

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William W. answered • 04/20/22

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You are solving for "A", P = 26,000, r = 0.023 (the decimal equivalent of 2.3%), and t = 15

Plug these into your calculator:


A = 26000e(0.023)(15)


You will find "e" on your calculator usually as the 2nd function "ln" button


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Annaleeze G.

I keep getting a number higher than $26,000
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04/20/22

William W.

You should get a number higher than 26,000. You are earning interest on your money. The answer is more than $36,700
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04/20/22

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