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A building was bought for $190,000 and sold 18 years later for $470,000. What interest rate (compounded continuously) was earned on the investment? A.
A building was bought for $190,000 and sold 18 years later for $470,000. What interest rate (compounded continuously) was earned on the investment? A. A= A= (1+) O B. A = Peit C. A = Pert D. A = P + e't Substitute the given values of A, P, and t into the formula. (Do not include the $ symbol in your answer.) What is the next logical step to solve this equation for r? OA. Take the natural log of both sides of the equation. OB. Divide both sides of the equation by er(18) OC. Divide both sides of the equation by 470,000. OD. Divide both sides of the equation by 190,000. Apply the next logical step found above and continue the calculations to solve for r. =18r (Simplify your answer. Type an integer, proper fraction, or mixed number.) Take the natural log of both sides. Simplify the right side. 47 In = 19 Now divide both sides by 18. (Round to the nearest thousandth as needed.) Is this the form in which interest rates are usually given? Yes No Convert 0.050 to a percent. [ % (Type an integer or a decimal.)
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