A promissory note will pay $47,000 at maturity 12 years from now. If you pay $21,000 for the note now, what rate compounded continuously would you earn? The investment would earn about ___%? compounded continuously. Round to three decimal places as needed. Appreciate the help thanks!
A promissory note will pay $47,000 at maturity 12 years from now. If you pay $21,000 for the note now, what rate compounded continuously would you earn? The investment would earn about ___%? compounded continuously. Round to three decimal places as needed. Appreciate the help thanks!
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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A promissory note will pay $47,000 at maturity 12 years from now. If you pay $21,000 for the note now, what rate compounded continuously would you earn?
The investment would earn about ___%? compounded continuously.
Round to three decimal places as needed.
Appreciate the help
thanks!
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