coolnerd7848 coolnerd7848

20-10-2020
Business

contestada

An investor buys 100 shares of a stock for $20,000. After 5 years the stock is sold for $32,000. If interest is compounded continuously, what annual nominal rate of interest did the original $20,000 investment earn? Round the final answer to the nearest hundredth.

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topeadeniran2 topeadeniran2

20-10-2020

Answer: 9.4%

Explanation:

From the question,

Investment, Po = 20000

The formula to use will be:

P = Po × e^rt

where r = rate

t = time

Check the attachment for further details and explanation.

Ver imagen topeadeniran2

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