Register
Peyton is going to invest $9,700 and leave it in an account for 16 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order
50.1k views
2 votes
Peyton is going to invest $9,700 and leave it in an account for 16 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Peyton to end up with $14,100?

User Gopichandar
by
8.2k points

1 Answer

9 votes

Answer: r ≈ 2.3%

Explanation:

User Miroslav Ligas
by
8.4k 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.

9.5m 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
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
Link Copied!