Step 1 :We are given a bond of $5500 that grows to $7335.67 in 6 years under continuous compounding. We need to find the interest rate.
Step 2 :We can use the formula for continuous compounding, which is \(A=P e^{r t}\), where \(A\) is the future value, \(P\) is the principal, \(r\) is the interest rate, and \(t\) is the time in years.
Step 3 :Substituting the given values into the formula, we get \(7335.67 = 5500 e^{r \times 6}\).
Step 4 :Solving this equation for \(r\), we get \(r = 0.048000109676938706\).
Step 5 :Rounding this to the nearest whole percent, we get \(r = 5\%\).
Step 6 :Final Answer: The interest rate is \(\boxed{5\%}\).