nt Use the model A = Pe" or A = P(1+) where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. $6000 grows to $7270.02 in 4 years under continuous compounding. Find the interest rate. Round to the nearest tenth of a percent. The interest rate is approximately %.
nt Use the model A = Pe" or A = P(1+) where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. $6000 grows to $7270.02 in 4 years under continuous compounding. Find the interest rate. Round to the nearest tenth of a percent. The interest rate is approximately %.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Use the model A = Pe' or A = P 1+-
where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year
for t years.
$6000 grows to $7270.02 in 4 years under continuous compounding. Find the interest rate. Round to the nearest tenth of a percent.
The interest rate is approximately %.
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