Substitute the given values in the formula A=Pert A=786000; P=247000; t= 17 years

Question

I need an answer because its for my assignment.thank you!

Answer 1

A=Pe^rt = 786000= 247000e^17r

786/247 = e^17r

17r = ln(786/247)

r = ln(786/247)/17 = about .0681

annual interest or growth rate = about 6.81%