Question

A gift of 6000 to a city grew to 4000000 in 200 years. At what interest rate compounded annually would this growth occur

Answer 1

4000000/6000=666.67
(1+r)^200=666.67
ln (1+r)^200=ln 666.67
200 ln (1+r)=ln 666.67
e^ln (1+r)=e^.03251145
1+r=1.0330457
r=0.0330457, or 3.30457% APR