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Find the principle, given r=3% and t=3/4 years, a=2556.25

  • Math -

    What does a represent?

  • Math -

    PRINCIPAL , not principle (they sound the same but are very different)

    Now you do not say but I suppose you are doing continuous compounding for 0.75 years at 3% ????

    If so

    A = P e^(rt)
    here A = 2556.25
    r = 0.03
    t = 0.75

    2556.25 = P e^(.0225)
    2556.25 = P * 1.02276

  • Math -

    LCM 26, 6

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