Hi

Note:

In General 

A = Accumulated Amount

P= principal = 2400

r= annual rate = 

n= periods per year = 1







    ln(1.03) = ln(1+r)^.5

    ln(1.03)/.5 = ln(1+r)

       e^.059 -1 = r = .0609 OR 6.09% 

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