Suppose that $1600 is initially invested in an account at a fixed interest rate, compounded continuously. Suppose also that, after six years, the amount of money in the account is $2067. Find the interest rate per year. Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth. % per year
Suppose that $1600 is initially invested in an account at a fixed interest rate, compounded continuously. Suppose also that, after six years, the amount of money in the account is $2067. Find the interest rate per year. Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth. % per year
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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