Use the compound interest formula to find the annual interest rate, r, if in 2 years an investment of 4,000 grows to 4410 The rate is %.

Daminufe asked Sep 26, 2022

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Daminufe asked Sep 26, 2022

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7 votes

Answer:

Explanation:

Bank amount=PA*(1+r/100)^t

4410=4000*(1+x/100)^2

1.05=(1+x/100), x=5%

Nohemi answered Oct 1, 2022

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