The formula [tex]B(t)=P(1+\frac{r}{n})^{nt}[/tex], for n=1 becomes [tex]B(t)=P(1+\frac{r}{1})^{1\cdot t}=P(1+r)^t[/tex].
Comparing [tex]B(t)=P(1+r)^t[/tex] with [tex]B(t)=900(1.185)^t[/tex], we see that
P=900, and 1+r=1.185, which means that r=0.185.
r=0.185 can be written as 18.5%, as a percentage.
Answer: 18.5%
