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Alice invests $15,000 at age 30 from the signing bonus of her new job. She hopes the investments will be worth $30,000 when she turns 40. If the interest compounds continuously, approximately what rate
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Alice invests $15,000 at age 30 from the signing bonus of her new job. She hopes the investments will be worth $30,000 when she turns 40. If the interest compounds continuously, approximately what rate of growth will she need to achieve her goal

User DeadChex
by
8.6k points

2 Answers

2 votes

Answer:6.9%

Explanation:

User Prasanth Jaya
by
8.3k points
3 votes

Answer:

2%

Explanation:

Explanation given in the attachment for better expression.

Alice invests $15,000 at age 30 from the signing bonus of her new job. She hopes the-example-1
User Eisenhorn
by
7.6k points
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