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Mathematics

1 answer:

Alex17521 [72]3 years ago

5 0

0.0392 or 3.92%
The exponential growth formula can find the interest rate.

y - tolat value (P +I) (216)
a - principal (200)
r- rate (unkown)
x - time in years (2 yrs)
Substitute known values

divide both sides by 200

take the square root of both sides

subtract 1 on both sides
r = 0.0392 or 3.92%

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