document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=980286>Question 980286</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Need help on how to solve, Thank you.<BR>\n" );
document.write( "You are given a nominal rate for an account. Find the continuous growth rate that has the same APY.  <BR>\n" );
document.write( "5.5% nominal rate compounded monthly  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #601533 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><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/cgi-bin/show-face.mpl?user=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=601533\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You are given a nominal rate for an account.<BR>\n" );
document.write( " Find the continuous growth rate that has the same APY.<BR>\n" );
document.write( " 5.5% nominal rate compounded monthly<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Find the APY of 5.5% compounded monthly <BR>\n" );
document.write( "APY = (1+<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=.055%2F12 ALIGN=MIDDLE  ALT=\".055%2F12\"   DISABLED_style= \"max-width:90%; height:auto;\" >)^12 - 1<BR>\n" );
document.write( "APY = .0564, which is 5.64% <BR>\n" );
document.write( ":<BR>\n" );
document.write( "the continuous growth rate of 5.5% is about the same<BR>\n" );
document.write( "e^.055 - 1 = .0565 which is 5.65%<BR>\n" );
document.write( ":<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );