106k views
4 votes
An initial investment of $200 is worth $315.24 after seven years of continuous compounding. Find the interest rate.​

User Hargo
by
8.1k points

1 Answer

3 votes

Answer:

16.46

Explanation:

subtract 315.24-200=115.24

then divide 115.24 and 7 to see what you get each year which is 16.46 rounded not rounded id 16.462857143.

User RarrRarrRarr
by
8.3k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.