find the interest rate needed

Calculus
Tutor: None Selected Time limit: 1 Day

Jul 10th, 2015

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Principal, P = $7,000

Amount, A = $4,000

Time, t = 10 years

Rate of interest, r = ?


The compound interest formula for continuously compounded interest is 

 


ANSWER:  Rate of interest, r = 5.6%

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Jul 10th, 2015

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