9. C AR Final (Practice Test - NO NOTES) Question 23 of 25 (4 points) | Question Attempt 1 of 1

Suppose that $12,000 is invested in a bond fund and the account grows to $13,733.06 in 3 yr.

(a) Use the model A= Pe to determine the average rate of return under continuous compounding. Round to the nearest tenth of a percent.
Avoid rounding in intermediate steps.
The average rate of return under continuous compounding is approximately. %