Mathematics

Hays

23 May, 11:44

The formula AequalsPleft parenthesis 1 plus r right parenthesis squared gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r left parenthesis where r is given as a decimal right parenthesis comma using compound interest. What interest rate will cause $ 5000 to grow to $ 5618.00 in 2 years?

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