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.
Question
Solution 1
The formula for continuously compounded interest is A = Pe^rt, where:
A = the amount of money accumulated after n years, including interest. P = the principal amount (the initial amount of money) r = annual interest rate (in decimal) t = time the money is invested for in years
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