$$ \begin{array}{l}\$ 1000 ext { are deposited in an account with a } \ 8.5 \% ext { interest rate, compounded } \ ext { continuously. } \ 5 ext { years }\end{array} $$ Next, enter $$ r $$, or the interest rate, as a decimal. $$ r=[?] $$

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$$ \begin{array}{l}\$ 1000 	ext { are deposited in an account with a } \ 8.5 \% 	ext { interest rate, compounded } \ 	ext { continuously. } \ 5 	ext { years }\end{array} $$ Next, enter $$ r $$, or the interest rate, as a decimal. $$ r=[?] $$

UpStudy AI · Accepted Answer

To convert the interest rate from a percentage to a decimal, you divide by 100:

$$
r = 8.5\% = \frac{8.5}{100} = 0.085
$$

**Therefore,**

$$
r = 0.085
$$
$$ r = 0.085 $$

Next, enter , or the interest rate, as a decimal.

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