trishinada63
Answered

An investment of $750 will be worth $1500 after 12 years of continuous compounding at a fixed interest rate. What percent is the interest rate?

Answer :

dpokharnaotzjgn
To solve this, first make an equation:

[tex]750(x)^{12}=1500 [/tex]

After you solve this, you get x = 1.0399, but we have to subtract 1 so we get 0.0399 which is 3.99%

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