Question 608908
  <pre><font face = "Tohoma Ital" size = 3 color = "indigo"><b> 
Hi
Note:
In General {{{A = P(1+r/n)^nt}}}
A = Accumulated Amount
P= principal = 2400
r= annual rate = 
n= periods per year = 1
{{{2475 = 2400(1+r)^.5}}}
{{{(2475/2400) = (1+r)^.5}}}
{{{(1.03) = (1+r)^.5}}}
    ln(1.03) = ln(1+r)^.5
    ln(1.03)/.5 = ln(1+r)
       e^.059 -1 = r = .0609 OR 6.09%