Find the interest rate needed for an investment of $10,000 to quadruple in 4 years if interest is compounded continuously. (Round your answer to the nearest hundredth of a percentage point.)

Answer 1

40 = 10e^4r

4 = e^4r

ln4 = 4r

r = ln4/4

r = .3466 = 34.66 % rate of interest