A promissory note will pay $51,000 at maturity 12 years from now. If you pay $22,000 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 $51,000 at maturity 12 years from now. If you pay $22,000 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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A promissory note will pay $51,000 at maturity 12 years from now. If you pay $22,000 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.)
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