An Account Now Contains $11,160 and Has Been Accumulating Interest

question 121

Short Answer

An account now contains $11,160 and has been accumulating interest at 7.2% annual interest, compounded continuously, for 7 years. Find the initial deposit.

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Definitions:

Demographics

statistical data relating to the population and the particular groups within it, often used for market research.

Offshoring

The practice of moving a business operation or process from one country to another, often to reduce costs or access specialized talent.

Cost Of Production

Refers to the total expense incurred in manufacturing a product or providing a service, including materials, labor, and overhead costs.

Legal-Political Conditions

The state of laws and political climate in a given area, influencing businesses, individual rights, and societal dynamics.