What interest rate is needed for an investment of 450 to be worth 1440 after 27 years if interest is compounded continuously? Enter your answer in decimal form and round to the nearest thousandth.

Solution

Solution

Rate : 4.30796 \dots %

Solution steps

Translate the problem into an equation:

1440 = 450 e^{r \cdot 27}

Solve for

r, 1440 = 450 e^{r \cdot 27} : r = 4.30796 \dots %

Rate : 4.30796 \dots %

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What interest rate is needed for an investment of 450​​​​ to be worth ​​1440​​ after 27​​​ years if interest is compounded continuously? Enter your answer in decimal form and round to the nearest thousandth.

Solution

Solution

Popular Examples

What interest rate is needed for an investment of 450 to be worth 1440 after 27 years if interest is compounded continuously? Enter your answer in decimal form and round to the nearest thousandth.