document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1047088>Question 1047088</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A person to graduate from college takes R $ 8,000 borrowed to buy a car . The financial charges annual interest rates of 10%. Assuming that interest compounded continuously and that the person makes continuous payments at an annual rate constant k , determine the payment rate k required for the loan to be paid in three years . Determine also the total interest paid during the period of 3 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #662686 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=662686\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> how can you make continuous payments? Please read what you wrote, correct it, and re-post the problem.<BR>\n" );
document.write( "Note: the interest can compound continuously but the payments are generally once per month. </SPAN>\n" );
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