Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Jennifer invested $3,000 in her savings account for 8 years. When she withdrew it, she had $4,695.54. Interest was compounded continuously. What was the interest
Jennifer invested $3,000 in her savings account for 8 years. When she withdrew it, she had $4,695.54. Interest was compounded continuously. What was the interest rate on the account? Round to the nearest tenth of a percent.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started