Question 1135779
{{{ A = P*( 1 + r/1 )^( 1*2 ) }}}
{{{ A = P*( 1 + r )^2 }}}
and
{{{ 2420 = 2000*( 1 + r )^2 }}}
{{{ 1.21 = ( 1 + r )^2 }}}
Take the square root of both sides
{{{ 1.1 = 1 + r }}}
{{{ r = .1 }}}
the rate is 10%