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An initial investment of $30,000 is made in an account where interest is compounded continuously. If the investment is to grow to $105,000 in 8 years, what is the required interest rate? (Round your answer to the nearest whole number.)  ____________%

An initial investment of $30,000 is made in an account where interest is compounded continuously. If the investment is to grow to $105,000 in 8 years, what is the required interest rate? (Round your answer to the nearest whole number.)  ____________%

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 20E
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An initial investment of $30,000 is made in an account where interest is compounded continuously. If the investment is to grow to $105,000 in 8 years, what is the required interest rate? (Round your answer to the nearest whole number.)


 ____________%

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