4 years ago

Tin

Mathematics

1 answer:

Pepsi [2]4 years ago

5 0

Answer:

10%

Step-by-step explanation:

The appropriate formula for the future value of an account with compound interest is ...

A = P(1 +r)^t

where r is the annual rate, and t is the number of years.

Fill in the given values and solve for r:

4840 = 4000(1 +r)^2

4840/4000 = (1 +r)^2

√1.21 = 1 +r

1.1 = 1 +r

r = 1.1 -1 = 0.10

r = 10%

The rate is 10%.

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