The formular is
[tex]A=P(1+\frac{r}{n})^{nt}[/tex][tex]6500=5000(1+\frac{r}{1})^{1\times8}[/tex][tex]\frac{6500}{5000}=(1+r)^8[/tex][tex]1.3=(1+r)^8[/tex][tex]1.3^{\frac{1}{8}}=(1+r)^{8\times\frac{1}{8}}[/tex][tex]1.3^{0.125}=1+r[/tex][tex]1.0333=\text{ 1+r}[/tex]subtract 1 from bothside
[tex]r\text{ = 0.0333}[/tex]R = 0.0333 x 100% = 3.33%
