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Suppose that $13,000 is invested in a bond fund and the account grows to $13,543.07 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 %.

Suppose that $13,000 is invested in a bond fund and the account grows to $13,543.07 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 %.

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 $13,000 is invested in a bond fund and the account grows to $13,543.07 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 %. Save For Later Submit Assignment Skip Part Check Answer 62021 McGraw-Hill Education All Rights Reserved. Terms of Use Privacy P Type here to search x F2 DII Prt Scn F8 Home End F9 F1 F3 F4 F5 F6
Transcribed Image Text:Suppose that $13,000 is invested in a bond fund and the account grows to $13,543.07 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 %. Save For Later Submit Assignment Skip Part Check Answer 62021 McGraw-Hill Education All Rights Reserved. Terms of Use Privacy P Type here to search x F2 DII Prt Scn F8 Home End F9 F1 F3 F4 F5 F6
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