twistedgamerhd12 twistedgamerhd12

21-10-2018
Mathematics

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Sally needs $20,000 in 4 years. She has $10,000 to invest. If interest is compounded continuously, what rate is required for Sally to meet her goal?

Respuesta :

zackmcnelly659 zackmcnelly659

13-03-2021

Answer: rate = natural log (Total / Principal) / Years

rate = natural log (2) / 4

rate = 0.69314718056 / 4

rate = 0.1732867951 So the required rate is

17.32867951 %

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