Question

Please help ASAP!!!!!

Answer 1

For this case we can begin dividing both sides by 3500 and we got:

`(3992)/(3500)=(1+r)^2`

then we can take square root in both sides and we got:

`\sqrt[]{(3992)/(3500)}=1+r`

And finally we can subtract 1 in both sides and we got:

`r=\sqrt[]{(3992)/(3500)}-1=0.06797`

and if we multiply by 100 we got:

r= 6.797 and rounded the answer would be:

6.8%