document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=694032>Question 694032</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help me answer this question: Kimberly invested $6000 in her savings account for 7 years. When she withdrew it, she had $7883.40. Interest was compounded continuously. What was the interest rate on the account? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #427728 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=427728\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Please help me answer this question: Kimberly invested $6000 in her savings account for 7 years. When she withdrew it, she had $7883.40. Interest was compounded continuously. What was the interest rate on the account?<BR>\n" );
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document.write( "A(t) = Ao*e^(rt)<BR>\n" );
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document.write( "7883.4 = 6000*e^(7r)<BR>\n" );
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document.write( "e^(7r) = 1.3139<BR>\n" );
document.write( "7r = ln(1.3139<BR>\n" );
document.write( "rate = 0.039 = 3.9%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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