document.write( "Question 1139631: In 2 years, an investment of $10,000 grows to $11,449. Use the compound interest formula A = P(1 + r)t
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Algebra.Com's Answer #760121 by ikleyn(52798) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "The formula A = P(1+r)t in your post is WRONG and INCORRECT.\r
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\n" ); document.write( "\n" ); document.write( "The correct formula is A = $\"P%2A%281%2Br%29%5Et\"$ , and then\r
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document.write( "    11449 = ,\r\n" );
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document.write( "     = \r\n" );
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document.write( "    1.1449 = \r\n" );
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document.write( "    1 + r = \r\n" );
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document.write( "    1 + r = 1.07\r\n" );
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document.write( "    r = 1.07 -1 = 0.07 = 7%.        ANSWER\r\n" );
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