Question: Interest Compounded Annually. When P dollars is invested at interest rate i, compounded annually, for t years, the investment grows to A dollars, where A

Interest Compounded Annually.
When P dollars is invested at interest rate i, compounded annually, for t years, the investment grows to A dollars, where
A = P(1 + i)t.
a) Find the interest rate i if $6250 grows to $6760 in 2 years.
b) Find the interest rate i if $1,000,000 grows to $1,215,506.25 in 4 years.

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