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 percent, would be required in
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

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
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!