document.write( "Question 1117266: The formula A=P(1+r)^2 gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r(s where r is given as a decimal) comma using compound interest. What interest rate will cause $ 5000 to grow to $ 5408.00 in 2 years?
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Algebra.Com's Answer #732293 by josgarithmetic(39617) $\"\"$ $\"About$

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$\"5000%281%2Br%29%5E2=5408\"$ assuming the compounding period is 1 year\r
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\n" ); document.write( "\n" ); document.write( " $\"%28r%2B1%29%5E2=5408%2F5000=1.0816\"$ \r
\n" ); document.write( "\n" ); document.write( " $\"r%2B1=1.04\"$ \r
\n" ); document.write( "\n" ); document.write( " $\"r=0.04\"$ or 4% \n" ); document.write( "

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