Use the following scenario to answer the question:
1 answer:
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The intital amount deposited was $18485.82.
<h3>How to find the compound interest?</h3>If n is the number of times the interested is compounded each year, and 'r' is the rate of compound interest annually, then the final amount after 't' years would be:
An account has $26,000 after 15 years. The account received 2.3 percent interest compounded continuously.
A = 26000
R = 0.02.3
Therefore, the intital amount deposited was $18485.82.
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