document.write( "Question 1198050: If money is worth 8 % compounded continuously, find its effective rate. \n" ); document.write( "

Algebra.Com's Answer #831560 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "The general formula for the 8% compounded continuously is  A(t) = ,  t is the time in years.\r\n" );
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document.write( "The effective rate is the annual growth rate\r\n" );
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document.write( "     =  = 1.083287009.\r\n" );
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document.write( "In the percentage form, the effective rate is 8.33% (approximately).   ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on continuously compounded accounts, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Problems on continuously compound accounts \r
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\n" ); document.write( "\n" ); document.write( "After reading this lesson, you will tackle such problems on your own without asking for help from outside.\r
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