document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1027589>Question 1027589</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Money deposited in a certain bank doubles every 8 years. The bank compounds interest continuously. What annual interest rate does the bank offer? Type your answer as a percent (not a decimal), and round your answer to the nearest thousandth of a percent (3 decimal places). </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #642817 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=642817\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The rule of 72 suggests the answer will be close to 9 %.<BR>\n" );
document.write( "P=Poexp(rt)<BR>\n" );
document.write( "P/Po=2<BR>\n" );
document.write( "2=exp(rt)<BR>\n" );
document.write( "ln of both sides<BR>\n" );
document.write( "ln2=rt<BR>\n" );
document.write( "ln2/8=r <BR>\n" );
document.write( "r=8.664 % </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );