SOLUTION: if $P are invested at an interest rate r compunded annually, at the end of 5 years the amount will be? A=P(1=r)^5 at what interest rate will $3000 increase to $5500 in 5 years?

SOLUTION: if $P are invested at an interest rate r compunded annually, at the end of 5 years the amount will be? A=P(1=r)^5 at what interest rate will $3000 increase to $5500 in 5 years?

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Question 1033786: if $P are invested at an interest rate r compunded annually, at the end of 5 years the amount will be? A=P(1=r)^5
at what interest rate will $3000 increase to $5500 in 5 years? r=

Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
==>
==> ==> to five significant figures.
Therefore, r = 12.9%.
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