An amount of $82500 is invested in a term deposit which earns continuous compounded interest. Then, as each term expires, the balance is rolled over and reinvested at the best interest rate with continuous compounding that is available. After 10 years the total balance of $144375.0 is withdrawn. What annual rate of interest has been earned over this period?

Answer rating: 100% (QA)

To solve this problem we can use the continuous compounding formula A ... View the full answer