Precalculus (6th Edition) Blitzer

Published by Pearson
ISBN 10: 0-13446-914-3
ISBN 13: 978-0-13446-914-0

Chapter 3 - Review Exercises - Page 514: 85


$22 \% $

Work Step by Step

The formula for continuously compounded interest is given by : $ A= Pe^{rt}$ Plug in the given data. $3x=(x) e^{5r}$ or, $3 =e^{5r}$ Take the natural log of each side. $\ln 3 =5r \implies r= \dfrac{\ln 3}{5} \approx 0.2197 \approx 22 \% $
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