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Beliebt Word Problems >

What interest rate is needed for an investment of 350 to be worth 1120 after 33 years if interest is compounded continuously? Enter your answer in decimal form and round to the nearest thousandth.

Lösung

Wha t in t eres t r a t e i s n ee d e d f or an in v es t m e n t o f 350​​​​ t o b e w or t h ​​1120​​ a f t er 33​​​ ye a rs i f in t eres t i s co m p o u n d e d co n t in u o u s l y ? E n t er yo u r an s w er in d ec ima l f or m an d ro u n d t o t h e n e a res t t h o u s an d t h .

Lösung

Rate : 3.52469 \dots %

Schritte zur Lösung

Translate the problem into an equation:

1120 = 350 e^{r \cdot 33}

Löse nach

r, 1120 = 350 e^{r \cdot 33} : r = 3.52469 \dots %

Rate : 3.52469 \dots %

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