Fred decides to think about retirement and invests at the age of 26. he invests $15,000 and hopes the investment will be
worth $900,000 by the time he turns 64. if the interest compounds continuously, approximately what rate of growth will he
need to achieve his goal? round to the nearest tenth of a percent.

Step-by-step explanation:

Future value with continuous compounding ; FV =

Introduce ln on both sides of the equation

ln 60 = ln

note:  ln

Next, solve the equation;

4.09 = 38r

Divide both sides by 38 to solve for r;

4.09/38 = r

r= 0.107746 or 10.7746%

Therefore the rate would be 10.775% to the nearest a tenth of a percent.

every 5 customers that walk in, only 2 buy popcorn.

step-by-step explanation:

basically 2/5.

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