ont) A person wants to triple a sum of money by investing it for 17 years, and is shopping around for available interest rates. Find the annual interest rate needed for achieving this goal. Express the interest rate in percentage, rounded to the nearest hundredth of a percent. (a) If interest is compounded annually: % (round to the nearest hundredth of a percent) (b) If interest is compounded continuously: % (round to the nearest hundredth of a percent)
ont) A person wants to triple a sum of money by investing it for 17 years, and is shopping around for available interest rates. Find the annual interest rate needed for achieving this goal. Express the interest rate in percentage, rounded to the nearest hundredth of a percent. (a) If interest is compounded annually: % (round to the nearest hundredth of a percent) (b) If interest is compounded continuously: % (round to the nearest hundredth of a percent)
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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