Jack invests $6,000 at age 28. He hopes the investment will be worth $300,000 when he turns 60. 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.

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03-12-2021
Business

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Jack invests $6,000 at age 28. He hopes the investment will be worth $300,000 when he turns 60. 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.

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