document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1086721>Question 1086721</A>: <I><SPAN STYLE=\"word-break: break-all;\"> kimberly invested $6000 in her savings account for 8 years. when she with drw it, she had $797.62. 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 #700967 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><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=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=700967\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The formula for continuous interest is A=Pe^rt, where A is the total amount, P is the principal, or, initial amount, r is the nominal interest rate, and t is the time invested, in years. Therefore:<BR>\n" );
document.write( "6797.62=6000*e^8r<BR>\n" );
document.write( "Then:<BR>\n" );
document.write( "1.1329367=e^8r<BR>\n" );
document.write( "ln 1.1329367=ln e^8r<BR>\n" );
document.write( "ln 1.1329367=8r ln e=8r<BR>\n" );
document.write( "ln 1.1329367 /8=0.0156016=r<BR>\n" );
document.write( "r=1.56016%<BR>\n" );
document.write( "&#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );