Nina invests a sum of money in a savings account with an
annual interest rate of 4.61% compounded continuously.
after 6 years, the balance reaches $5274.56. what
was the amount of the initial investment?

and i would like the formula to use : )

The amount of the initial investment by Nina is $2271 approximately.

Solution:

Given, Nina invests a sum of money in a savings account with an annual interest rate of 4.61% compounded continuously.  

After 6 years, the balance reaches $5274.56.  

We have to find what was the amount of the initial investment?

We know that, compound interest is given as

Now, balance = invested amount + compound interest.

Hence, the invested amount of money is $2271 approximately.

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step-by-step explanation:

told you

step-by-step explanation:

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