You invest your life savings into an account with continuously compounded interest, and you find that your money quadruples in 20 years. What's the interest rate? Give the exact answer.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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You invest your life savings into an account with continuously compounded
interest, and you find that your money quadruples in 20 years. What's the
interest rate? Give the exact answer.
Transcribed Image Text:You invest your life savings into an account with continuously compounded interest, and you find that your money quadruples in 20 years. What's the interest rate? Give the exact answer.
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