We put $500 into an account earning interest compounded continuously. What interest rate do we need if we want $600 in 3 years?

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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We put $500 into an account earning interest compounded continuously.
What interest rate do we need if we want $600 in 3 years?
(A) 8.4%
(B) 9.4%
(C) 7.4%
(D) 7.1%
(E) 6.1%
You may use https://www.desmos.com/calculator on this problem.
(A)
O O O O Og
OOOO
O (B)
Transcribed Image Text:We put $500 into an account earning interest compounded continuously. What interest rate do we need if we want $600 in 3 years? (A) 8.4% (B) 9.4% (C) 7.4% (D) 7.1% (E) 6.1% You may use https://www.desmos.com/calculator on this problem. (A) O O O O Og OOOO O (B)
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