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:

Cross-national Differences

Variations in cultural, economic, social, or political aspects observed between different countries or nations.

IQs

Short for Intelligence Quotients, a measure of a person's cognitive abilities in relation to their age group, expressed as a numerical score.

Premises

Premises refer to statements or ideas assumed to be true and used as the basis for constructing an argument or reasoning.

Conclusions

The end or finish of an event, process, or text, often summarizing the main points or findings.