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Addison is going to invest $3,100 and leave it in an account for 15 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required
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Addison is going to invest $3,100 and leave it in an account for 15 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required in order for Addison to end up with $7,300?

User Reinhard Behrens
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8.0k points

2 Answers

12 votes

Answer:

5.71%

Explanation:

User Edy Bourne
by
7.3k points
9 votes

Answer:

r= 5.71%

Step-by-step explanation

Just did it

User Fabio Ceconello
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7.5k points
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