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1 answer:
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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%
Answer: 4 or
To find the square root of a number, remember that there will be two factors that are the same that will give you the product.
Lets start from 1:
1 x 1 = 1
2 x 2 = 4
3 x 3 = 9
4 x 4 = 16
As you can see, 4 x 4 is 16. To make sure I'm correct, remember that a square roots consists two identical factors.
4 and 4 are the same numbers.
Therefore, = 4
It can also be written as