final=initial*e^(r*t) 413.75=205.50*e^(r*11). Solve this by taking the natural log of both sides. You should get r~6.4%
Katherine C.
asked • 06/03/15FIND INTEREST RATE
An initial investment of $205.50 is worth $413.75 after 11 years of continuous compounding. Find the interest rate.
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