queenhenderson queenhenderson

12-08-2021
Mathematics

contestada

You put $5000 in an investment account with interest compounded
continuously. Calculate the approximate annual interest needed for the
account to grow to $10,000 after 20 years.

Respuesta :

loconte loconte

12-08-2021

Answer:

3.465 %

Step-by-step explanation:

10000 = 5000 [tex]e^{20r}[/tex]

2= [tex]e^{20r}[/tex]

ln(2) = 20r ln(e)

r = ln(2)/20

r = 0.03465

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