Question
7. Mary Smith deposits 300 in a savings account on January 1st and does not withdraw or add any funds over the next 66 months.
7. Mary Smith deposits 300 in a savings account on January 1st and does not withdraw or add any funds over the next 66 months. At the end of 66 months the balance in the account is 400. What is the interest rate received on the account, written as a continuously compounded rate?
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The Compensation Committee Handbook
Authors: James F. Reda, Stewart Reifler, Michael L. Stevens
4th Edition
1118370619, 978-1118370612
