Answered: investor bought stock for $20,000.…

investor bought stock for $20,000. Fourteen years later, the stock was sold for $30,000. If interest is compounded continuously, what annual nominal rate of interest did the original $20,000

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.3: The Natural Exponential Function

Problem 9E

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Question

An investor bought stock for

$20,000.

Fourteen

years later, the stock was sold for

$30,000.

If interest is compounded continuously, what annual nominal rate of interest did the original

$20,000

investment earn?

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