gracelogan709 gracelogan709

03-02-2024
Mathematics

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Dale has $2,000 to invest. He has a goal to have $3,800 in this investment in 9 years. At what annual rate compounded continuously will Dale reach his goal?

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stevenschoolmaster stevenschoolmaster

03-02-2024

the annual rate compounded continuously is approximately 0.07132 or 7.132 % Therefore, Dale needs to invest at an annual rate of approximately 7.132 % compounded continuously to reach his goal of $3,800 in 9 years.

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