Question 1139631
.


The formula    A = P(1+r)t  in your post is  WRONG  and  INCORRECT.


No one bank and no one account works according to this formula.


The correct formula is    A = {{{P*(1+r)^t}}},   and then


<pre>
    11449 = {{{10000*(1+r)^2}}},


    {{{11449/10000}}} = {{{(1+r)^2}}}


    1.1449 = {{{(1+r)^2}}}


    1 + r = {{{sqrt(1.1449)}}}


    1 + r = 1.07


    r = 1.07 -1 = 0.07 = 7%.        <U>ANSWER</U>
</pre>