document.write( "Question 1153269: Find the effective rate of interest for 8% compounded continuously.
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Algebra.Com's Answer #775469 by ikleyn(52803) $\"\"$ $\"About$

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document.write( "The growing coefficient (growing factor) in this case is, by the definition\r\n" );
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document.write( "    r =  =  = 1.083287,\r\n" );
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document.write( "where  e = 2.71828 is the base of natural logarithms (the Euler's number).\r\n" );
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document.write( "Thus the equivalent effective rate of interest compounded annually is 8.3%, approximately.\r\n" );
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