SOLUTION: Determine the rate of interest required for a principal of $1000 to produce a future value of $4000 after 10 years compounded continuously.

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Question 1072607: Determine the rate of interest required for a principal of $1000 to produce a future value of $4000 after 10 years compounded continuously.
Answer by josgarithmetic(39630) About Me  (Show Source):
You can put this solution on YOUR website!
4=e%5E%2810%2Ar%29
ln%284%29=ln%28e%5E%2810r%29%29
ln%284%29=10r%2A1
r=ln%284%29%2F10
r=0.1386

13.86% interest rate