A building was bought for $120,000 and sold 15 years later for 5340000. What interest rate {compounded continuously) was earned on the investment? To find the interest rate earned on this investment. use the formula for continuous compound interest. whereA is the nal amount, P is the initial amount. ris the interest rate. and t is the time period. What is the formula for continuous compound interest? {JA.A=P\" r mt if} B. A: [1+] ' m r3c.A=PJ '. 5:: o. A=P+e\" '. Substitute the given values ofA. P, and t into the formula. [Do not include the S symbol in your answer.) What is the next logical step to solve this equation for r? {:3 A. Divide both sides of the equation by 120000. (:3 B. Divide both sides of the equation by 340000. {:3 C. Take the natural log of both sides of the equation. {3: n, Divide both sides of the equation by em}. Apply the next logical step found above and continue the calculations to solve for r. {Simplify your answer. Type an integer, proper fraction, or mixed number.) Take the natural log of both sides. Simplify the right side. .17 I15- Now divide both sides by 15. rm (Round to the nearest thousandth as needed.) Is this the form in which interest rates are usually given? -;_,i Yes '2.) N o