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Suppose that $50,000 from a retirement account is invested in a large cap stock fund. After 15 yr, the value is $167,325.68. Part: 0/2 Part 1 of 2 (a) Use the model A=Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate is approximately %. X S 8E

Suppose that $50,000 from a retirement account is invested in a large cap stock fund. After 15 yr, the value is $167,325.68. Part: 0/2 Part 1 of 2 (a) Use the model A=Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate is approximately %. X S 8E

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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Suppose that $50,000 from a retirement account is invested in a large cap stock fund. After 15 yr, the value is $167,325.68. Part: 0 / 2 Part 1 of 2 (a) Use the model A = Pet to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate is approximately %. X Ś OO >
Transcribed Image Text:Suppose that $50,000 from a retirement account is invested in a large cap stock fund. After 15 yr, the value is $167,325.68. Part: 0 / 2 Part 1 of 2 (a) Use the model A = Pet to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent. Avoid rounding in intermediate steps. The average rate is approximately %. X Ś OO >
(b) How long will it take the investment to reach one-quarter million dollars? Round to the nearest tenth of a year. Round values in intermediate steps to three decimal places. It will take approximately years. X EQ BH
Transcribed Image Text:(b) How long will it take the investment to reach one-quarter million dollars? Round to the nearest tenth of a year. Round values in intermediate steps to three decimal places. It will take approximately years. X EQ BH
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