Question 1025819
Please help, I am stucked at this question:

Find the interest rate needed for an investment of $3,000 to grow to an amount of $4,000 in 3 years  if interest is compounded continuously. Please round the answer to the nearest hundredth of percent.

I am using the compounded interest formula:
A = P ( 1+〖r/m)〗^mt
where A = $4000 and P = $3000 and t = 3 (years) and m = 1 (annually) and r = interest (percentage)
I am stuck at this step: $4000 = $3000 〖(1+r)〗^3
Suppose if this is correct up to this point, can anyone be kind enough to show me the workings in solving this? Much thanks.
<pre>You used the formula for interest when doing REGULAR (monthly, quarterly, annually, etc.) compounding but this requires
the formula for CONTINUOUS ompounding, which is: {{{highlight_green(A = Pe^(rt))}}}.
You solve this for r, the interest rate