Question

Dale has ​$2,000 to invest. He has a goal to have ​$3,800 in this investment in 9 years. At what annual rate compounded continuously will Dale reach his​ goal?

Answer 1

the annual rate compounded continuously is approximately 0.07132  or 7.132 % Therefore, Dale needs to invest at an annual rate of approximately 7.132 %  compounded continuously to reach his goal of  $3,800 in 9 years.

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