Solve the problem.
-Use the formula $A=P(1+r)^{2}$ to find what the rate of interest is if a principal amount of $\$ 5500$ grows to $\$ 6415.20$ in 2 years, if interest is compounded annually.
A) $8 \%$
B) $10 \%$
C) $6 \%$
D) $9 \%$

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-Use the formula $A=P(1+r)^{2}$ to find what the rate of interest is if a principal amount of $\$ 5500$ grows to $\$ 6415.20$ in 2 years, if interest is compounded annually.
A) $8 \%$
B) $10 \%$
C) $6 \%$
D) $9 \%$

Solve the Problem A=P(1+r)2A=P(1+r)^{2}A=P(1+r)2 To Find What the Rate of Interest Is If a the Rate

Solve the Problem $A=P(1+r)^{2}$ To Find What the Rate of Interest Is If a the Rate