A family paid $99,000 cash for a house. Fifteen years later, the house was sold for $195,000.
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A family paid $99,000 cash for a house. Fifteen years later, the house was sold for $195,000. If interest is compounded continuously, what annual nominal rate of interest did the original $99,000 investment earn?
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Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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