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Popular Word Problems >

An investment of 750 will be worth 1500 after 12 years of continuous compounding at a fixed interest rate. What percent in the interest rate?

Solution

implicit derivative

in v es t m e n t o f 750 w i ll b e w or t h 1500 a f t er 12 ye a rs o f co n t in u o u s co m p o u n d in g a t a f i x e d in t eres t r a t e . Wha t p erce n t in t h e in t eres t r a t e ?

Solution

Rate : 5.77622 \dots %

Solution steps

Translate the problem into an equation:

1500 = 750 e^{r \cdot 12}

Solve for

r, 1500 = 750 e^{r \cdot 12} : r = 5.77622 \dots %

Rate : 5.77622 \dots %

Popular Examples

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