Use logarithms to solve the problem. Find the interest rate needed for an investment of $5800 to double in 5 years if interest i
s compounded continuously. (Round your answer to two decimal places.)
1 answer:
Answer:
14.86%
Step-by-step explanation:
The principal = $5800
Time = 5 years
Amount = $ 11600
From;
A= P(1 + r)^n
Substituting values;
11600=5800(1 + r)^5
Rate= (11600/5800)^1/5 - 1
Rate= 0.1486
Therefore
Rate= 14.86%
You might be interested in
D
Use the midpoint theorem of the triangle
Line x bisects the 2z and is parallel to line y (corresponding angles
Therefore x = half y
Answer:the answer is mode
Step-by-step explanation:
Answer:
blurd po
Step-by-step explanation:
^_________^^_________^^_________^
Answer:
The answer is 72
Step-by-step explanation:
Hope this helps :))