HELPPP Grayson invests $8,000 at age 20. Grayson wants the investment to be worth$24,000 by age 33. If interest is compounded continuously, what rate of returndoes Grayson need to reach that goal? Enter your answer as a decimal roundedto the thousandths place.Show your work hereHint: To add an exponent (x"), type "exponent" or press "A"Enter your answerEELI

Answered: Image /qna-images/answer/6bbdbd10-2839-4493-9102-5fb6e34515b2.jpg

Answered: Grayson invests $8,000 at age 20.…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.4: Geometric Sequences And Series

Problem 7SC

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Grayson invests $8,000 at age 20. Grayson wants the investment to be worth $24,000 by age 33. If interest is compounded continuously, what rate of return does Grayson need to reach that goal? Enter your answer as a decimal rounded to the thousandths place.