An investor bought stock for ​$50,000. Nine years​ later, the stock was sold for ​$70,000. If interest is compounded​ continuously, what annual nominal rate of interest did the original ​$50,000 investment​ earn?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter9: Quadratic Functions And Equations
Section9.9: Combining Functions
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An investor bought stock for
​$50,000. Nine years​ later, the stock was sold for ​$70,000.
If interest is compounded​ continuously, what annual nominal rate of interest did the original
​$50,000
investment​ earn?
 
 
 

Question content area bottom

Part 1
The annual nominal rate of interest earned is        %.
​(Round to two decimal places as​ needed.)
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