Multiple Choice
Solve the problem.
-Ben Franklin bequeathed $4000.00 to the city of Boston in 1790. Assuming the fund grew to $9 million in 200 years, find the interest rate compounded continuously that would yield this total value. Round to the nearest
Tenth when necessary.
A) 3%
B) 6.1%
C) 3.9%
D) 1.9%
Correct Answer:
Verified
Correct Answer:
Verified
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