A person deposits $50 in a bank and in two years it increases to $56.18.If the bank compounds interest annually,what annual rate of interest does it pay?

Name: A person deposits $50 in a bank and in two years it increases to $56.18.If the bank compounds interest annually,what annual rate of interest does it pay?
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The Answer of A person deposits $50 in a bank and in two years it increases to $56.18.If the bank compounds interest annually,what annual rate of interest does it pay?

A Person Deposits $50 in a Bank and in Two