4-P(1+) che model A=Pe or A=P|1+- ] ,where A is the future value of P dollars invested at nuously or n times per year for t years. L000 bond grows to $3264.63 in 10 years under continuous compounding. Find the interest rat ent. The interest rate is approximately %.
4-P(1+) che model A=Pe or A=P|1+- ] ,where A is the future value of P dollars invested at nuously or n times per year for t years. L000 bond grows to $3264.63 in 10 years under continuous compounding. Find the interest rat ent. The interest rate is approximately %.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 25E
Related questions
Question
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Use the model A =Pe or A = P
where A is the future value of P dollars invested at interest rate
continuously or n times per year for t years.
A $2000 bond grows to $3264.63 in 10 years under continuous compounding. Find the interest rate. Round to
percent.
The interest rate is approximately
%.
Check Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6077164d-83d9-436f-82f2-c26beeb11d65%2Fc24c8009-a93d-4340-88ea-b79e4662aae5%2F2uzxkca_processed.jpeg&w=3840&q=75)
Transcribed Image Text:nt
rt
Use the model A =Pe or A = P
where A is the future value of P dollars invested at interest rate
continuously or n times per year for t years.
A $2000 bond grows to $3264.63 in 10 years under continuous compounding. Find the interest rate. Round to
percent.
The interest rate is approximately
%.
Check Answer
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