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Grayson is going to invest $710 and leave it in an account for 17 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required in
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Grayson is going to invest $710 and leave it in an account for 17 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required in order for Grayson to end up with $920?

User Metdos
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1 Answer

5 votes

Answer:

1,3%

Explanation:


x^(20) * 710 = 920\\x^(20) = 1.3\\x = 1.013

User Gats
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