Ben Franklin's gift of $6,000 to New York City grew to $6,000,000 in 200 years. At what interest rate compounded annually would this growth occur? The interest rate would be %. (Round to the nearest hundredth.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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Ben Franklin's gift of $6,000 to New York City grew to $6,000,000 in 200 years. At what interest rate compounded annually would this growth occur?
The interest rate would be
%.
(Round to the nearest hundredth.)
Transcribed Image Text:Ben Franklin's gift of $6,000 to New York City grew to $6,000,000 in 200 years. At what interest rate compounded annually would this growth occur? The interest rate would be %. (Round to the nearest hundredth.)
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