Suppose that $2500 is initially invested in an account at a fixed interest rate, compounded continuously. Suppose also that, after three years, the amount of money in the account is $2695. Find the interest rate per year.
Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth.

Hey! We 've verified this expert answer for you, click below to unlock the details :)

I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!

is it 6.5%

or .65%?

$2,695 = 25OO e^(3r)
=> r = (1/3) ln ( 2,695/ 2500 ) = 2.5%

Looking for something else?

Not the answer you are looking for? Search for more explanations.

## More answers

Looking for something else?

Not the answer you are looking for? Search for more explanations.