Precalculus (6th Edition)

Published by Pearson
ISBN 10: 013421742X
ISBN 13: 978-0-13421-742-0

Chapter 4 - Inverse, Exponential, and Logarithmic Functions - 4.2 Exponential Functions - 4.2 Exercises: 10

Answer

$0.03$

Work Step by Step

$10.000=5000\left( 1+r\right) ^{25}\Rightarrow \left( 1+r\right) ^{25}=\dfrac {10000}{5000}=2\Rightarrow 1+r=\sqrt [25] {2}\approx 1.03\Rightarrow r=0.03$
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