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Sunny_sXe [5.5K]
2 years ago
7

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

interest rate, to the nearest tenth of a percent, would be required in order for Jocelyn to end up with $1,220?
Mathematics
2 answers:
german2 years ago
6 0

Answer:3.6

Step-by-step explanation:

tigry1 [53]2 years ago
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%

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