To illustrate the "miracle" of compound interest, Person A bequeathed $4000 to City A in 1790. The fund grew to $4.5 million in 220 years. Find the annual rate compounded continuously that would cause this "miracle" to happen. The annual rate compounded continuously would be %. (Round to one decimal place as needed.)
To illustrate the "miracle" of compound interest, Person A bequeathed $4000 to City A in 1790. The fund grew to $4.5 million in 220 years. Find the annual rate compounded continuously that would cause this "miracle" to happen. The annual rate compounded continuously would be %. (Round to one decimal place as needed.)
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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To illustrate the "miracle" of compound interest, Person A bequeathed $4000 to City A in 1790. The fund grew to $4.5 million in 220 years. Find the annual rate compounded
continuously that would cause this "miracle" to happen.
The annual rate compounded continuously would be %.
(Round to one decimal place as needed.)
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