The amount of $7,000 is invested in a Certificate of Deposit (CD) and will be worth $16,000
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The amount of $7,000 is invested in a Certificate of Deposit (CD) and will be worth $16,000 in nine years. What is the continuously compounded nominal (annual) interest rate for this CD?
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16000 7000 FP r 9 ...View the full answer
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Related Book For 
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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