SOLUTION: At what rate percent compound interest does a sum of money become 2.25 times of itself in 2 years?

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Question 852695: At what rate percent compound interest does a sum of money become 2.25 times of itself in 2 years?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29

 A/P = 2.25, n = 1

2.25 = (1+r)^2     (Tossing out the negative solution for unit measure) 

 1.5 = (1+r)

  .5 = r