When the interest on an investment is compounded continuously, the investment grows at a rate that is proportional to the amount in the account. If $25,000 is invested (when
) and the amount in the account after 18 years is $46,940.26, find the interest rate on this investment? Round to one decimal place.
?
A. 3.0%
B. 3.5%
C. 4.0%
D. 4.5%
E. 5.0%
Answer: B
Mathematics
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