A promissory note will pay $47,000 at maturity 6 years from now. If you pay...

60.1K

Verified Solution

Question

Basic Math

image

A promissory note will pay $47,000 at maturity 6 years from now. If you pay $28,000 for the note now, what rate compounded continuously would you earn?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students