document.write( "Question 360654: the formula a=p(1+r)2 gives the amount A dollar that P dollars will grow to in 2 years at interest rate R (when R is given as a decimal) using compound interest what interest rate will cause 3000 to grow to 3182.70 in two years? \n" ); document.write( "

Algebra.Com's Answer #257378 by stanbon(75887) $\"\"$ $\"About$

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the formula a=p(1+r)2 gives the amount A dollar that P dollars will grow to in 2 years at interest rate R (when R is given as a decimal) using compound interest what interest rate will cause 3000 to grow to 3182.70 in two years?
\n" ); document.write( "----
\n" ); document.write( "3182.70 = 3000(1+r)^2
\n" ); document.write( "----
\n" ); document.write( "1.0609 = (1+r)^2
\n" ); document.write( "1+r = 1.03
\n" ); document.write( "r = 0.03 = 3%
\n" ); document.write( "==============
\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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