Ken has an investment account which compounds interest continuously at a rate of 3.4%. After 4 years, he has $4400 in the account. How much money did he initially place in the account? Round your answer to the nearest dollar. Do NOT round until you have calculated the final answer.

$6617

Step-by-step explanation:

Use the formula for calculating compound interest A=P0ert where A is the unknown, P0=4400, r=0.034, and t=12. Substitute the values into the formula and simplify.

A=4400e0.034⋅12

A=4400e0.408

A=4400(1.503...)

A=6616.75

After 12 years, there will be A≈6617 in the account, rounded to the nearest dollar.

$3841

Solve the formula for calculating compound interest

a=Pe rt for

x + y = 90 5x – 10y = 90 90 – 10y = 5x 90 + 10y = 5x

step-by-step explanation:

last month maria hiked the 5-mile mountain trail a number of times and she hiked the 10-mile canal trail several times. let x represent the number of times she hiked the 5-mile trail, and let y represent the number of times she hiked the 10-mile trail. if she hiked a total of 90 miles, which equation can be used to find the number of times maria hiked each trail? x + y = 90 5x – 10y = 90 90 – 10y = 5x 90 + 10y = 5x