Find the Interest Rate Needed for an Investment of $3,000

question 99

Short Answer

Find the interest rate needed for an investment of $3,000 to grow to an amount of $4,000 in 3 yr if interest is compounded continuously. Please round the answer to the nearest hundredth of percent.
__________ %/yr

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Definitions:

Color Perception

The process by which the brain interprets and identifies colors in the visual spectrum.

Language

A complex system of communication using symbols, sounds, or gestures, enabling humans to express thoughts, emotions, and ideas.

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The act or process of thinking, where ideas, memories, and considerations are processed cognitively.

Gricean Maxim

Principles proposed by philosopher H.P. Grice to ensure clear, cooperative communication, including quality, quantity, relation, and manner.