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Penelope is going to invest $23,000 and leave it in an account for 11 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in
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Penelope is going to invest $23,000 and leave it in an account for 11 years. Assuming

the interest is compounded continuously, what interest rate, to the nearest tenth of a
percent, would be required in order for Penelope to end up with $41,000?

User Richard Bender
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7.3k points

1 Answer

8 votes

Answer: r ≈ 5.3%

Explanation:

User Nojhan
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7.1k points
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