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13 November, 20:34

Find the rate of annual interest compounded continuously earned on the investment. (Round your answer to two decimal places.) An investment grows from $100 to $170 in 30 months.

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  1. 13 November, 23:16
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    Pe^{rt} = Compound interest formula

    100e^{30r} = 170

    e^{30r} = 17/10

    30r = ln (17/10)

    r = [ln (17/10) ]/30

    r =.02 = 2 percent
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