John invests a sum of money in a retirement account with fixed annual interest rate of 2.63% compounded continuously. after 15 years the balance reaches 1,912.41.what was the amount of initial investment

The amoun of the initial value was $1,289.

Step-by-step explanation:

1. To solve this problem you must apply the formula shown below:

Where:

- is the account balance ().

- is the principal.

- is the annual interest ().

- is the time in years ().

- =2.7182

2. You must substitute the values into the formula and then you must solve for , as following:

4.08%

step-by-step explanation:

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