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Jocelyn is going to invest $610 and leave it in an account for 12 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Jocelyn to end up with $1,220?

Respuesta :

fnej

Answer:

0.06 or 6%

Step-by-step explanation:

Continuous Compounding:

[tex]A=Pe^{rt}\\1220=610e^{12r}\\\\r=\frac{ln(2)}{12} \\\\r=0.058[/tex]

0.06 or 6%

Answer:3.6

Step-by-step explanation:

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