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TRISTON
Lv 4
Can u show me how to find the interest rate? Suppose that $10,000 is invested rate r% per year,?
compounded contiuously, and grows to $11140.48 in 2 years.
Update:
ty TJ u r great.
1 Answer
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- 1 decade agoFavorite Answer
You would you use the equation
FV = PV * e ^ ( r * N )
where
FV = Future Value = 11,140.48
PV = Present Value = 10,000
N = 2
so calculating it would be:
11,140.48 = 10,000 * e ^ (r *2)
ln(1.114)=r*2
.108 = r *2
r = .054
5.4%
Source(s): Senior Analyst at http://www.crownsinvesting.com/
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