An account offers an annal interst rate of 100 *r%, compounted continuously. Find the value of r so the the APY(i.e, effective interest rate) on this account is 20.2%. Express your answer exactly, and also rounded to three decimal places.
An account offers an annal interst rate of 100 *r%, compounted continuously. Find the value of r so the the APY(i.e, effective interest rate) on this account is 20.2%. Express your answer exactly, and also rounded to three decimal places.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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An account offers an annal interst rate of 100 *r%, compounted continuously. Find the value of r so the the APY(i.e, effective interest rate) on this account is 20.2%. Express your answer exactly, and also rounded to three decimal places. (r is the non-percentage value fo
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