Suppose that an investment earning 6 interest compounded, Ask an Expert

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Suppose that an investment earning 6% interest compounded continuously has a balance of $4500 after 4 years. Find the amount of the investment as follows:

Write an equation by using the given information in the compound continuous interest formula.

Solve this equation and answer the question: What is the original amount if this investment? Round to two decimal digits and include correct units.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91772645

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