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Suppose that an investment of $2500 has a balance of $3500 after 6 years. Find the compounded continuous interest rate of this investment as follows:
Suppose that an investment of $2500 has a balance of $3500 after 6 years. Find the compounded continuous interest rate of this investment as follows:
Write an equation by using the given information in the compound continuous interest formula.
Solve this equation and answer the question: What is the interest rate of this investment. Write as a percent and round answer to one decimal digit.
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