An Initial Investment of $5000 Doubles in Value in 11

question 27

Multiple Choice

An initial investment of $5000 doubles in value in 11 years. Assuming continuous compounding, what was the interest rate? Round to the nearest tenth of a percent.

• A)2.7%
• B)3.2%
• C)11%
• D)6.3%
• E)100%

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