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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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Mar 8, 2022
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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?
Mathematics
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Richard Bender
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Answer: r ≈ 5.3%
Explanation:
Nojhan
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Mar 14, 2022
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