document.write( "Question 620517: The formula A=P(1+r)^2 gives the amount A in dollars that P will grow to in 2 years at interest rate r (where r is given as a decimal), using compound interest. What interest rate will cause $2000 to grow to $2163.20 in 2 years?\r
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Algebra.Com's Answer #390195 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
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document.write( "Hi,
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document.write( "What interest rate will cause $2000 to grow to $2163.20 in 2 years?
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document.write( " 2163.20/2000 = (1 + r)^2
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document.write( "1.0816 = (1+r)^2  |taking the square root of both sides of the EQ     
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document.write( " 1.04 = (1+ r)    
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document.write( "   .04 = r   or r = 4% interest \n" );
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