Question 251450
The problem did not indicate whether the problem is a simple or a compound interest type.
So, were going to use this 2 method:
   Let: I = the interest
        P = principal amount
        F = future amount
        n = # of years
        r = interest rate
  ---For simple interest rate:
        I = F - P
          = $58,100 - $55,000
        I = $3,100
     I = Prn
     3,100 = 55,000(2)(r)
       r = 2.82%---1st ans.
   ---For compound interest rate:
      F = P(1+r)^n
      58,100 = 55,000(1+r)^2
       r = 2.8%---2nd ans.