An initial amount of money is placed in an account at an interest rate of 4% per year, compounded continuously. After two years, there is $1169.95 in the account. Find the initial amount placed in the account. Round your answer to the nearest cent.

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

i think u have 12 apples sorry again i don't really know if it correct i'm just tryna hrlp people out.