The initial investment in a savings account in which interest is compounded continuously is $608. If the time required to double theamount is 9 years, what is the annual rate? Round your answer to two decimal places.6.29 %O 7.70%O 7.49 %8.89 %O 13.34 %

Given query is to find rate of interest.

Answered: The initial investment in a savings…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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The initial investment in a savings account in which interest is compounded continuously is $608. If the time re mount is 9 years, what is the annual rate? Round your answer to two decimal places. 6.29 % 7.70% O 7.49% ) 8.89 % 13.34 %