Question 1029105
Find the interest rate if ​$128 increased to ​$242 in 2 years
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A(t) = P(1+(r/n))^(nt)
242 = 128(1+(r/1))^(1*2)
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(1+r)^2 = 1.8906
1+r = 1.375
rate = 0.375 = 37.5%
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Cheers,
Stan H.