An initial investment of $4000 doubles in value in 6.8 years. Assuming continuous compounding, what was the interest rate?
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I would use the model where A = annuities, P = principal amount invested, r = rate, t = time in years Therefore as the amount doubled over 6.8 years, using (t,A) = (6.8,8000) gives Can you solve for r? Spoiler:
Originally Posted by pickslides I would use the model where A = annuities, P = principal amount invested, r = rate, t = time in years Therefore as the amount doubled over 6.8 years, using (t,A) = (6.8,8000) gives Can you solve for r? Spoiler: 10.19% just what i was looking for
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