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13 March, 17:35

A gift of 6000 to a city grew to 4000000 in 200 years. At what interest rate compounded annually would this growth occur

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  1. 13 March, 21:14
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    4000000/6000=666.67

    (1+r) ^200=666.67

    ln (1+r) ^200=ln 666.67

    200 ln (1+r) = ln 666.67

    e^ln (1+r) = e^.03251145

    1+r=1.0330457

    r=0.0330457, or 3.30457% APR
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