Question 223299
12,000(1+R)^2=27,000
(1+R)^2=27,000/12,000
(1+R)^2=2.25
1+R=SQRT2.25
1+R=1.5
R=1.5-1
R=.5 OR 50% IS THE INTEREST RATE.
PROOF:
12,000(1+.5)^2=27,000
12,000*1.5^2=27,000
12,000*2.25=27,000
27,000=27,000