Register

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 perc…

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 perc…
131k views
19 votes
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
by
7.7k points

1 Answer

8 votes

Answer: r ≈ 5.3%

Explanation:

User Nojhan
by
7.6k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!