SophiaPretty

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Category > Math Posted 11 Aug 2017 My Price 5.00

The formula A=P(1+r)^2 gives the amount A in dollars that P dollars will grow to in 2 years

The formula A=P(1+r)^2 gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r (where r is given as a decimal), using compound interest. What interest rate will cause $6000 to grow to $6427.35 in 2 years?

 

The interest rate is ___%

Answers

SophiaPretty
(5)
Status NEW Posted 11 Aug 2017 06:08 AM My Price 5.00

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