SOLUTION: Use the compound interest formula Upper A= P( 1 + r )^t to find the annual interest​ rate, r, if in 2 years an investment of $2,000 grows to $ 3,380. The rate is ? %

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Question 1128472: Use the compound interest formula Upper A= P( 1 + r )^t to find the annual interest​ rate, r, if in 2 years an investment of $2,000 grows to $ 3,380.
The rate is ? %
Found 2 solutions by MathLover1, MathTherapy:
Answer by MathLover1(20850)   (Show Source): You can put this solution on YOUR website!


years
grows to

=?















...need only positive solution





=> %



Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!
Use the compound interest formula Upper A= P( 1 + r )^t to find the annual interest​ rate, r, if in 2 years an investment of $2,000 grows to $ 3,380.
The rate is ? %


 ------- Substituting 3,800 for A, $2,000 for P, and 2 for t



          OR      

     OR     

              OR     ------- ONLY solution > 0 is applicable HERE

Annual interest rate, or  

That's all!! Nothing more, nothing less! 

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