SOLUTION: Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.)
Initial Investment: UNKNOWN
Annual % Rate: 9.1%
Time to Double: 7.62
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-> SOLUTION: Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.)
Initial Investment: UNKNOWN
Annual % Rate: 9.1%
Time to Double: 7.62
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Question 1119113: Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.)
Initial Investment: UNKNOWN
Annual % Rate: 9.1%
Time to Double: 7.62
Amount after 10 Years: $14000 Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! I will assume compounding occurs once per year:
x(1+0.091)^7.62 = 14000 divide everything by (1+0.091)^7.62
x = 14000/((1.091)^7.62) = 7,209.50
