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Solve the Problem $3,000\$ 3,000 Bond Grows To $4,475.47\$ 4,475.47 In 8 Yr Under Continuous Compounding

Question 139

Multiple Choice

Solve the problem.
-A $3,000\$ 3,000 bond grows to $4,475.47\$ 4,475.47 in 8 yr under continuous compounding. Find the interest rate. Round our answer to the nearest whole percent.


A) 8%8 \%
B) 5%5 \%
C) 7%7 \%
D) 6%6 \%

Correct Answer:

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