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Complete the table for a savings account in which interest is compounded continuously. (Round your answers to four decimal plac...Question
Complete the table for a savings account in which interest is compounded continuously. (Round your answers to four decimal places.)
Initial Investment: $1,000
Annual % Rate: %
Time to Double: 15 yr
Amount After 9 Years:
Initial Investment: $1,000
Annual % Rate: %
Time to Double: 15 yr
Amount After 9 Years:
Answers
Anonymous
2 = e^rt
ln 2 = r *15
r = 0.0462 or 4.62 %
A = 1000 * e^(0.0462 *9) =1515.72
ln 2 = r *15
r = 0.0462 or 4.62 %
A = 1000 * e^(0.0462 *9) =1515.72