Question 152894
end of 1st yr __ 10000(1+r)


end of 2nd yr __ [10000(1+r)+3500](1+r)=15569.75


10000+10000r+3500+10000r+10000r^2+3500r=15569.75 __ subtracting 15569.75 __ 10000r^2+23500r-2069.75=0


use quadratic formula to find r



r=8.5%