Answer:
r = 2.7%
Step-by-step explanation:
Interest rate compounded continuously
r = ln(A/P) / t
Where,
r = interest rate
A = future value
P = principal
t = time
r = ln(A/P) / t
r = ln(13,006.40/8,000) / 18
= ln(1.6258) / 18
= 0.4860000023303 / 18
= 0.0270000001294
Approximately
r = 0.027
Convert value of r to percentage
r = 0.27 × 100
r = 2.7%
