Jocelyn is going to invest $610 and leave it in an account for 12 years. Assuming the interest is compounded continuously, what

Question

2 years ago

7

interest rate, to the nearest tenth of a percent, would be required in order for Jocelyn to end up with $1,220?

2 answers:

german · Answer 1 · 2022-11-27T20:17:28+03:00

german2 years ago

6 0

Answer:3.6

Step-by-step explanation:

tigry1 [53] · Answer 2 · 2022-11-27T18:29:04+03:00

5 0

Answer:

0.06 or 6%

Step-by-step explanation:

Continuous Compounding:

$A=Pe^{rt}\\1220=610e^{12r}\\\\r=\frac{ln(2)}{12} \\\\r=0.058$

0.06 or 6%