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opose that $11,000 is invested in a bond fund and the account grows to $13,567.67 in 5 yr. Part: 0/2 Part 1 of 2 (a) Use the model A=Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate of return under continuous compounding is approximately %. X S

opose that $11,000 is invested in a bond fund and the account grows to $13,567.67 in 5 yr. Part: 0/2 Part 1 of 2 (a) Use the model A=Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate of return under continuous compounding is approximately %. X S

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Suppose that $11,000 is invested in a bond fund and the account grows to $13,567.67 in 5 yr. Part: 0/2 Part 1 of 2 (a) Use the model A=Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate of return under continuous compounding is approximately%. X
Transcribed Image Text:Suppose that $11,000 is invested in a bond fund and the account grows to $13,567.67 in 5 yr. Part: 0/2 Part 1 of 2 (a) Use the model A=Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate of return under continuous compounding is approximately%. X
Part 2 of 2 (b) How long will it take the investment to reach $20,000 if the rate of return continues? Round to the nearest tenth of a year. Round values in intermediate steps to three decimal places. It will take the investment approximately yr to reach $20,000 if the rate of return continues. X S
Transcribed Image Text:Part 2 of 2 (b) How long will it take the investment to reach $20,000 if the rate of return continues? Round to the nearest tenth of a year. Round values in intermediate steps to three decimal places. It will take the investment approximately yr to reach $20,000 if the rate of return continues. X S
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