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16-04-2021
Mathematics

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A savings account starts with $181.25. After 7 years of continuous compounding at an interest rate, r, the account has $1450.
What is the interest rate percentage?
Round the answer to the nearest hundredth.

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15-04-2022

Answer:

29.71

Step-by-step explanation:

Continuous Compounding Formula = P x e^(r x t)

= 181.25 x e^(0.29710000000000003 x 7) = 1450.37

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