The formula A = P(1 + r) 2 gives the amount A in dollars that P dollars
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The formula A = P(1 + r)2 gives the amount A in dollars that P dollars will grow to in 2 yr at interest rate r (where r is given as a decimal), using compound interest. What interest rate will cause $2000 to grow to $2142.45 in 2 yr?
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Related Book For
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis
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