If it took 6 years for your initial amount compounded continuously at an interest rate of 4 and you ended up with 1144 then your initial principal was 9. In the formula A represents the final amount in the account that starts with an initial principal P using interest rate r for t years. Round to two decimal places.
In an annuity problem of the three monetary variables at least one must be of a different sign than the other two.
T 231 Fini sh solving the problem by dividing each side by 12 and round your final answer. Calculate Principal Amount solve for P P A 1 rn nt. We use many of the same methods for calculating continuous compound interest as we do finitely compounded interest. I go over examples involving compound growth and continuous compound growth.