11,000 = 8,000e9r
11/8 = e9r
ln(11/8) = 9r
r ~ 3.54%
Kyle B.
asked • 04/02/21Find the interest rate needed for an investment of $8,000 to grow to $11,000 in 9 years if interest is compounded continuously. (Round your answer to the nearest hundredth of a percentage point.)
Find the interest rate needed for an investment of $8,000 to grow to $11,000 in 9 years if interest is compounded continuously. (Round your answer to the nearest hundredth of a percentage point.)
________%
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