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Allison is going to invest $7,800 and leave it in an account for 12 years. Assuming the
interest is compounded continuously, what interest rate, to the nearest hundredth of
a percent, would be required in order for Allison to end up with $11,800?

Respuesta :

Answer:

r=0,035

Step-by-step explanation:

Equation is A=[tex]Pe^{r*t}[/tex]

P= 7800

t= 12

A= 11800

To find r

[tex]Ln\frac{A}{P} = r*t[/tex]  

[tex]\frac{(Ln\frac{11800}{7800} )}{12} = r[/tex]

r=0,035

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