now to obtain 4300 in 4 years if the interest rate in a savi

now to obtain 4300 in 4 years if the interest rate in a savings account is 0.3%, compounded continucuslyt Round your answer to the ncarest cent Initial Investment: S Submit Answer Tries 0/99

Solution

We have to use the following formula

A = P e^{r t}

4300=p e^.005*4

4300= P e^.02

P=4300/e^.02

P=$4214.85