What is the interest rate necessary for an investment to quadruple after 19 years of continuous compound interest?r=___%
Added by Juan Francisco R.
Step 1
In this case, we know that A = 4P (since the investment quadruples), and t = 19 years. We want to find r. So, we can set up the equation as follows: 4P = Pe^(19r). Dividing both sides by P, we get 4 = e^(19r). Taking the natural logarithm of both sides, we get Show more…
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