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.)

Q: If $5000 is deposited in a savings account that earns interest at an annual rate of 7.5% interest…

A: Given that $5000 deposited in savings account that earns interest at annual rate of 7.5% compounded…

Q: How long (in years) will it take to triple your money if it is invested in a certificate of deposit…

A: Money is invested in a certificate of deposit (CD) and it is given that,Annual interest rate = 4% =…

Q: amount of $50,000 is borrowed for 13 years at 4.5% interest, compounded annually. If the loan is…

A:

Q: Assume that Bob deposited $3,000 per year in a bank account. Since the bank offered a compound…

A: As per the question we are given the principal deposited after each year as $3,000 ; the annual…

Q: -ars? rate would be %. (If needed, round to 1 decimal place.)

A: We have used compound interest formula to find the required interest rate

Q: To illustrate the​ "miracle" of compound​ interest, Person A bequeathed​$5000to City A in 1790. The…

A:

Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Suppose that $1000 is invested at a 10% interest rate compounded quarterly. b) How many years will…

A: Solution:Giveninvestmentment Amount=$1000     r=0.01To find (a) What will investment be worth after…

Q: the present value of $8,000 if the interest paid is at a rate of 9% compounded continuously for 4…

A:

Q: A building was bought for $150,000 and sold 10 years later for $400,000. What interest rate…

A: given: A building was bought for $150,000 and sold 10 years later for $400,000. we have to determine…

Q: If $6000 is invested for six years and seven months at 6% compounded semi-annually, what is the…

A: I have appended the formula used in the solution procedure

Q: $20,000 is invested at an annual interest rate of 12%, compounded semi-annually. What is the balance…

A:

Q: The desired accumulated amount is $60,000after 11 years invested in an account with 2.3% interest…

A:

Q: Annabelle invested $70,000 in an account paying an interest rate of 6.1% compounded continuously.…

A: