Use the model A = Pe, where A is the future value of P dollars invested at interest rate compounded continuously for t years. $2000 grows to $2183.98 in 2 years under continuous compounding. Find the interest rate. Round to the nearest tenth of a percent. Part: 0/5 Part 1 of 5 and solve for r Substitute P = =+ = 0 an

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 31HP
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Use the model A = Pe, where 4 is the future value of P dollars invested at interest rate compounded continuously for t years.
the nearest tenth of a percent.
$2000 grows to $2183.98 in 2 years under continuous compounding. Find the interest rate. Round
Part: 0 / 5
Part 1 of 5
Substitute P = -01-0
and solve for
led
Transcribed Image Text:Use the model A = Pe, where 4 is the future value of P dollars invested at interest rate compounded continuously for t years. the nearest tenth of a percent. $2000 grows to $2183.98 in 2 years under continuous compounding. Find the interest rate. Round Part: 0 / 5 Part 1 of 5 Substitute P = -01-0 and solve for led
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