SOLUTION: An investment of $750 will be worth $1385 after 10 years of continuous compounding at a fixed interest rate. What is the annual percentage rate?

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Question 739334: An investment of $750 will be worth $1385 after 10 years of continuous compounding at a fixed interest rate. What is the annual percentage rate?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
An investment of $750 will be worth $1385 after 10 years of continuous compounding at a fixed interest rate. What is the annual percentage rate?
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FV+=+PV%2Ae%5Ert
1385+=+750%2Ae%5E%280.1r%29
e%5E0.1r+=+1385%2F750+=+277%2F150
0.1r+=+ln%28277%2F150%29
r+=+10%2Aln%28277%2F150%29