Hector invests $20,000 at age 21. He hopes the investment will be worth $200,000 when he turns 40. 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.

12.12%

Step-by-step explanation:

We have that the formula is given by:

A = p * e ^ (r * t)

From here, we know that A = 200000; p = 20000 and the time we can calculate 40 - 21 = 19

if we replace we have:

200000 = 20000 * e ^ (19 * r)

we must calculate r:

e ^ (19 * r) = 200000/20000

e ^ (19 * r) = 10

19 * r = ln 10

r = ln 10/19

r = 0.1212

In other words, the rate of growth is 12.12%

the data of the detroit pistons in numerical order from least to greatest is 0.30, 0.37, 0.55, 0.62, 0.69, 0.72, 0.73, 0.75, 0.77, 0.78, 0.80, 0.81, 0.81, 0.83, 0.84, 0.89

the data of the miami heat in numerical order from least to greatest is 0.50, 0.50, 0.56, 0.57, 0.67, 0.72, 0.72, 0.72, 0.75, 0.75, 0.76, 0.81, 0.82, 0.90, 1.00, 1.00

the detroit pistons median : 1.52

the miami heat median: 1.47

the iqr of this data is 0.05