Ask Question
24 May, 08:17

A gift of 6000 to a city grew to 4000000 in 200 years. At what interest rate compounded annually would this growth occur

+3
Answers (1)
  1. 24 May, 08:20
    0
    4000000/6000=666.67

    (1+r) ^200=666.67

    ln (1+r) ^200=ln 666.67

    200 ln (1+r) = ln 666.67

    e^ln (1+r) = e^.03251145

    1+r=1.0330457

    r=0.0330457, or 3.30457% APR
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A gift of 6000 to a city grew to 4000000 in 200 years. At what interest rate compounded annually would this growth occur ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers