Jared A.

asked • 06/22/18

Need help finding the missing values and how to solve.

Find the missing values assuming continuously compounded interest. (Round your answers to two decimal places.)
 
Initial Investment: $200
 
% Rate: (find)

Time to Double: (find)
 
Amount after 10 years: $1405


1 Expert Answer

By:

Mark M. answered • 06/23/18

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A = Pert
 
1405 = 200e10r
7.025 = e10r
ln 7.025 = 10r
 
Can you solve for r and answer?
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Jared A.

Thank you sir, 
 
That was where I was struggling, finding the r value. I am sure it has to do with natural log or log, but I struggle setting those formulas up when utilizing my text books.
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06/23/18

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