Question: A promissory note will pay $45,000 at maturity 4 years from now. If you pay $27,000 for the note now, what rate compounded continuously would


A promissory note will pay $45,000 at maturity 4 years from now. If you pay $27,000 for the note now, what rate compounded continuously would you earn? The investment would earn about % compounded continuously. (Round to three decimal places as needed.)
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
