Suppose that $13,000 is invested in a bond fund and the account grows to $14,250.63 in 4 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
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ISBN:9781938168383
Author:Jay Abramson
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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 $14,250.63 in 4 yr.
Part: 0/2
Part 1 of 2
rt
(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
Transcribed Image Text:Suppose that $ 13,000 is invested in a bond fund and the account grows to $14,250.63 in 4 yr. Part: 0/2 Part 1 of 2 rt (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
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