Answer:
19.7 or 20 rounded
Step-by-step explanation:
A = $ 1,861.65
A = P + I where
P (principal) = $ 630.00
I (interest) = $ 1,231.65
Continuous Compounding Formulas (n → ∞)
Calculate Accrued Amount (Principal + Interest)
A = Pe^rt
Calculate Principal Amount, solve for P
P = A / e^rt
Calculate rate of interest in decimal, solve for r
r = ln(A/P) / t
Calculate rate of interest in percent
R = r * 100
Calculate time, solve for t
t = ln(A/P) / r
