You have 5 000 in the bank comfortably earning 48 interest

Last updated: 3/28/2024

You have 5 000 in the bank comfortably earning 48 interest compounded monthly Your cousin needs 5 000 to buy a new car In order to get the same total return what interest rate r should you request from her if the money you lend her is to be compounded continuously Exact Interest rate without using a calculator r 48 Interest rate as a percent rounded to 2 decimal places 48