Wyatt is going to invest $58,000 and leave it in an account for 19 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Wyatt to end up with $109,000?

The answer which is the rate, should be 3.3%

3.3%
Round to the nearest tenth of a percent which is 3.3 %

Question

03-03-2021
Mathematics

Answered

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Wyatt is going to invest $58,000 and leave it in an account for 19 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Wyatt to end up with $109,000?

The answer which is the rate, should be 3.3%

3.3%
Round to the nearest tenth of a percent which is 3.3 %

Sagot :

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