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Nathan is going to invest $80,000 and leave it in an account for 16 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a pe…

Nathan is going to invest $80,000 and leave it in an account for 16 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a pe…
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Nathan is going to invest $80,000 and leave it in an account for 16 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required in order for Nathan to end up with $160,000?

User Asur
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1 Answer

3 votes

Answer: ≈4.33%

Explanation:

User Otunba
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