Question: the formula A = P(1 + r)^2 gives the dollar amount A to which P dollars will grow in 2 years at the interest rate

the formula A = P(1 + r)^2 gives the dollar amount A to which P dollars will grow in 2 years at the interest rate r (where r is given as a decimal), using compound interest. What interest rate will cause $1,000 to grow to $1,060.90 in 2 years?

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