London is going to invest $8.8oo and leave it in an account for 10 years.
Assuming the interest is compounded continuously, what interest rate, to the
nearest hundredth of a percent, would be required in order for London to
end up with $13.400?

Respuesta :

Answer:

k = 0.04205029854

k = 4.205029854%

Step-by-step explanation:

13400 = 8800(e)^10(k)

ln 1.52 = 10k ln e

(ln 1.52)/ 10 = k

Answer:

The interest rate would be 4.21%