Question

Grayson is going to invest $710 and leave it in an account for 17 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required in order for Grayson to end up with $920?

Answer 1

1,3%

Explanation:

`x^(20) * 710 = 920\\x^(20) = 1.3\\x = 1.013`