Use the formula for continuously compounded interest, A = Pert, to find the annual interest rate for an $8000 investment that earns $410.17 in one year.

a. 7%

b. 6%

c. 5%

d. 4%

Question

Lawson Blair

24 October, 03:45

+5

Answers (2)

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Julianna Perez · Answer 1

c 5%

Step-by-step explanation:

8000 + 410.7 = 8000 e^ (r)

e^r = 1.05127125

r lne = ln1.05127125

r = 0.05006316309 * 100

5%

Hadassah · Answer 2

C 5%

Step-by-step explanation:

I hope this is what you need

Use the formula for continuously compounded interest, A = Pert, to find the annual interest rate for an $8000 investment that earns $410.17 in one year.a. 7%b. 6%c. 5%d. 4%