SOLUTION: please help me out with this problem A business invests $10,000 in a savings account for two years. At the beginning of the second year, an additional $3500 is invested. At th

Question 172637This question is from textbook
: please help me out with this problem
A business invests $10,000 in a savings account for two years. At the beginning of the second year, an additional $3500 is invested. At the end of the second year, the account balance is $15,569.75. What was the annual interest rate? This question is from textbook

Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
2.10000(x+1)(x+1)+3500(x+1)=15569.75------>where x is the interest rate
.... dealing with a quadratic formula.....
when you solve this email me and I will let you know if you have the correct answer.

:
drop the negative value
:
or 8.5%

Solved by pluggable solver: SOLVE quadratic equation with variable

Quadratic equation (in our case ) has the following solutons:

For these solutions to exist, the discriminant should not be a negative number.

First, we need to compute the discriminant : .

Discriminant d=635010000 is greater than zero. That means that there are two solutions: .

Quadratic expression can be factored:

Again, the answer is: 0.0849702377437334, -2.43497023774373. Here's your graph:

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