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

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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