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Mai invests $20,000 at age 20. She hopes the investment will be worth $500,000 when she turns 40. If the interest compounds continuously, approximately what rate of growth will she need to achieve her
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Mai invests $20,000 at age 20. She hopes the investment will be worth $500,000 when she turns 40. If the interest compounds continuously, approximately what rate of growth will she need to achieve her goal? Round to the nearest tenth of a percent.

User Timsen
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2 Answers

1 vote

Answer:

The investment needs the rate of growth to be approximately 16.1%.

Explanation:

User Mullins
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5 votes

Answer:16.1%

Explanation:

User Maximilian Krause
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3.6k points
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