Solution-Find the interest rate needed for an investment

Find the interest rate needed for an investment

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Reference no: EM131927319

Part A. How long will it take for an investment of $6,000 to double if the investment earns interest at the rate of 5%/year compounded continuously? (Round your answer to one decimal place.)

Part B. Find the interest rate needed for an investment of $3,000 to grow to $7,000 in 3 years if interest is compounded continuously. (Round your answer to the nearest hundredth of a percentage point.)

Reference no: EM131927319

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Find the interest rate needed for an investment

Reference no: EM131927319

Reference no: EM131927319

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