Author Question: At what interest rate would a deposit of $30,000 grow to $70,895 in 20 years with continuous compounding? (Read 85 times)

Engineer · **on:** Jun 16, 2021

Question 1

Assume the cost of a gallon of milk is $3.00. With continuous compounding, find the time it would take the cost to be 2 times as much (to the nearest tenth of a year), at an annual inflation rate of 6%.
◦ 0.2 years
◦ 4.2 years
◦ 11.6 years
◦ 0.1 years

Question 2

At what interest rate would a deposit of $30,000 grow to $70,895 in 20 years with continuous compounding?
◦ 5.3%
◦ 4.3%
◦ 2.3%
◦ 7.3%

jaygar71 · **Reply #1 on:** Jun 16, 2021

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