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An investment of $750 will be worth $1500 after 12 years of continuous compounding at a fixed interest rate. What percent is the interest rate?
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An investment of $750 will be worth $1500 after 12 years of continuous compounding at a fixed interest rate. What percent is the interest rate?

User Telma
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1 Answer

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To solve this, first make an equation:


750(x)^(12)=1500

After you solve this, you get x = 1.0399, but we have to subtract 1 so we get 0.0399 which is 3.99%
User Vinay Vishwakarma
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