(b) What is the equivalent annual interest rate? (Round your answer to two decimal places.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
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Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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(a) How long will it take an investment to double in value if the interest rate is 12% compounded continuously? (Round your answer to two decimal places.)
5.78
yr
(b) What is the equivalent annual interest rate? (Round your answer to two decimal places.)
13.0
X %
Transcribed Image Text:(a) How long will it take an investment to double in value if the interest rate is 12% compounded continuously? (Round your answer to two decimal places.) 5.78 yr (b) What is the equivalent annual interest rate? (Round your answer to two decimal places.) 13.0 X %
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