Answer:
64.5%
Step-by-step explanation:
Initial amount N° = ?
Remaining amount after decay = N = ?
k = decay constant = 0.00012
t = time = 3650 year
fraction remaining will be N/N°
From the decay equation, N = N°
N/N° =
N/N° =
N/N° =
N/N° = 0.645 = 64.5%
Answer: 13.29%
Step-by-step explanation:
The formula to calculate the compound amount (compounded continuously) is given by :-
, where P is the principal amount , r is the rate of interest ( in decimal) and t is the time period.
Given : P= $ 35,000 , A= $257,000 and t=15 years
To find : r , we substitute all the values in the above formula , we get
Taking natural log on both the sides , we get
Hence, the annual interest rate = 13.29%