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Jack invests $6,000 at age 28. He hopes the investment will be worth $300,000 when he turns 60. If the interest compounds continuously, approximately what rate of growth will he need to achieve his goal?
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Jack invests $6,000 at age 28. He hopes the investment will be worth $300,000 when he turns 60. If the interest

compounds continuously, approximately what rate of growth will he need to achieve his goal?

User WedTM
by
4.7k points

2 Answers

3 votes

Answer:

400000

Explanation:

User KRONWALLED
by
5.1k points
5 votes

Answer:

12.2%

Explanation:

User Relevart
by
5.7k points
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