Question 1103565
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<pre>
12699*(1+r)^2 = 13824  ====>


(1+r)^2 = {{{13824/12699}}}  ====>


1 + r = {{{sqrt(13824/12699)}}}  ====>


r = {{{sqrt(13824/12699)-1}}} = 0.0433.


<U>Answer</U>.  The rate is 0.0433,  or  4.33%  compounded annually.
</pre>

Ignore the @josgarithmetic writing.



His approach to solving this problem is &nbsp;<U>W R O N G</U>.