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An investment of $\$1,200$ is made in an account with continuous compounding. After $8$ years, the account balance is $\$2,400$. Determine the annual interest rate. Round your answer to the nearest two decimal places in percentage form. Use the formula $A = Pe^{rt}$, where $A$ is the balance (final amount), $P$ is the principal (starting amount), $e$ is the base of natural logarithms ($\approx 2.71828$),$r$ is the interest rate expressed as a decimal, and $t$ is the time in years.