What principal invested at 8% compounded continuously for 4 years will yield $1190?

For continuously compounded interest:

Amount = Principle * e^(rate * time)

A rate of 8% converted to a decimal value: r=0.08
With time t=4
and amount 1190

Plug all these values in,

1190 = Principle * e^(0.08 * 4)

And use your calculator to solve for the principle.
Maybe we'll call it P to make things easier.

1190 = P * e^(0.08 * 4)
1190 = P * 1.377

The principle is being multiplied by this 1.377,
divide by 1.377 to undo the multiplication.

864.11735 = P

 

Step-by-step explanation:

For this exercise let "d" represents the number of days that it took the grass  in Jamie’s yard to grow one centimeter.

According to the information given in the exercise, you know that in ten days the grass grew sixteen centimeters.

Therefore, since it was growing at a constant rate, you can set up the following proportion:

Finally, you need to solve for "d" in order to find its value.

You get that this is:

Therefore, you can conclude that the grass  in Jamie’s yard grew 1 centimeter in 0.625 days.