A family paid $99,000 cash for a house. Fifteen years later, the house was sold for $195,000.

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A family paid $99,000 cash for a house. Fifteen years later, the house was sold for $195,000. If interest is compounded continuously, what annual nominal rate of interest did the original $99,000 investment earn?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Apr 09, 2022 12:00 AM

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A family paid $99,000 cash for a house. Fifteen years later, the house was sold for $195,000.

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Contionous compunding amount accumulated is a fun...View the full answer

College Mathematics For Business Economics, Life Sciences, And Social Sciences

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