nt Use the model A Pe" or A P where A is the future value of P dollars invested at interest %3D continuously or n times per year for t years. A $5000 bond grows to $7999.97 in 10 years under continuous compounding. Find the interest rate. Round percent. The interest rate is approximately

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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nt
Use the model A = Pd" or A =P(1+)..
where A is the future value of P dollars invested at interest ra
continuously or n times per year for t years.
A $5000 bond grows to $7999.97 in 10 years under continuous compounding. Find the interest rate. Round
percent.
The interest rate is approximately
%.
Transcribed Image Text:nt Use the model A = Pd" or A =P(1+).. where A is the future value of P dollars invested at interest ra continuously or n times per year for t years. A $5000 bond grows to $7999.97 in 10 years under continuous compounding. Find the interest rate. Round percent. The interest rate is approximately %.
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