Question
At the end of 2 years, P dollars invested at an interest rate r compounded annually increases to an amount, A dollars, given by
At the end of 2 years, P dollars invested at an interest rate r compounded annually increases to an amount, A dollars, given by the following formula A= P(1+r) Find the interest rate if $128 increased to $162 in 2 years. Write your answer as a percent. Annual compound interest rate = % (Type an integer or a decimal.)
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Get StartedRecommended Textbook for
Finite Mathematics and Its Applications
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
12th edition
978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632
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