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.
When Sara enters the 11th grade, her grandparents deposit $10,000 in a college savings account. Find the interest rate i if the $10,000 grows to $11,193.64 in 2 years.

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