Christian is going to invest $9,400 and leave it in an account for 18 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Christian to end up with $15,300?
Christian is going to invest $9,400 and leave it in an account for 18 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Christian to end up with $15,300?
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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Christian is going to invest $9,400 and leave it in an account for 18 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Christian to end up with $15,300?
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