Question
The formula A=P(1+r)2 gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r (where r is
The formula
A=P(1+r)2
gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r
(where
r is given as a
decimal),
using compound interest. What interest rate will cause
$2000
to grow to
$2205.00
in 2 years?
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Fundamentals of corporate finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
9th edition
978-0077459451, 77459458, 978-1259027628, 1259027627, 978-0073382395
