Question: - Compound Interest Course Packet on accumulated amount examples - solving for an unknown interest rate with continuous compounding of interest Determine the interest rate

 - Compound Interest Course Packet on accumulated amount examples - solving

- Compound Interest Course Packet on accumulated amount examples - solving for an unknown interest rate with continuous compounding of interest Determine the interest rate r needed for an investment of $4,000 to grow to $7,000 in 9 years if interest is compounded continuously. Exact interest rate (without using a calculator), r = Interest rate, as a percent, rounded to 2 decimal places = %

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!