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attashe74 [19]
3 years ago
12

Sally needs $20,000 in 4 years. She has $10,000 to invest. If interest is compounded continuously, what rate is required for Sal

ly to meet her goal?
Mathematics
1 answer:
Nana76 [90]3 years ago
4 0

Answer:

rate = natural log (Total / Principal) / Years

rate = natural log (2) / 4

rate =  0.69314718056 / 4

rate = 0.1732867951  So the required rate is

17.32867951 %

Source: https://www.1728.com/rate2.htm



Step-by-step explanation:


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