Question

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%

Answer 1

Answer:

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%

Answer 2

Answer:

C 5%

Step-by-step explanation:

I hope this is what you need