A promissory note will pay $50,000 at maturity 8 years from now. If you pay $23,000 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.)
A promissory note will pay $50,000 at maturity 8 years from now. If you pay $23,000 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.)
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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