Find the interest rate needed for an investment of $8,000 to grow to an amount of $8,800 in 4 months if interest is compounded m
1 answer:
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Answer:
.
Step-by-step explanation:
Dilate a point by a scale factor of
with
as the center, and the resultant point would be at
.
In this question:
Point to dilate: .
Scale factor: .
Center of dilation: .
The resultant point would be:
, which simplifies to
.